Big data impacts pretty much everything we do in the modern world. But what actually is it?

In this article, we are discussing what big data actually is, why it is important and how you can get involved.

What is big data analytics?

As you might have guessed, 'big data' refers to data that is stored in high volume and variety. Analysis of this data can then help to uncover trends, correlations and make predictions across a wide selection of industries. With an Applied Economics qualification from Boston College, you could be on your way to working for government departments, corporate businesses or even environmental agencies.

Software and technology have advanced dramatically since we first began analyzing data. As such, digital tools can now be used to handle larger quantities of data at a time, helping businesses analyze information much faster and more accurately.

While in the past, small pools of information have been generalized to create predictions and patterns for larger hypothesis, big data allows businesses to skip the guess work and get more detailed, accurate answers for their questions.

This analysis can be mapped out in one of four ways:

• Descriptive: Where software can tell what hashappened
• Diagnostic: Tools are used to understand why something happened
• Predictive: Using data to forecast what might happen next
• Prescriptive: A way to tell businesses what they should do next to achieve the best results

Why does big data analytics matter?

Big data allows businesses to make more educated decisions. Analyzing copious amounts of data with the click of a button now means organizations can revolutionize the way they operate, serve and impact their customers.

It also opens the door to better and faster innovation. By working in big data analytics, you could be paving the way to innovative ways to protect the environment or helping to streamline supply chain for the largest businesses in the world.

As there is so much data available to analysts in the modern world, analytics can make a big difference to everyone's security – especially when it comes to online privacy.

How to get involved

There are plenty of ways to get involved in big data analytics. Typically, those interested would head to college to study data science, but this is only half the journey. While data science can provide you with the knowledge of numbers and analysis, being able to apply these techniques to reallife situations will give you edge over the competition. That is where applied Economics or Science comes into it. A Masters in applied subjects can help you take the theory into usable skills.

When researching which course to take to start your journey, be sure to consider STEM designated degrees. These programs are affiliated with the Department of Home Security, meaning you could be on your way to making a real difference for your country.

Those that study big data analytics have a world of job opportunities available to them – and the demand for analysts is only ever increasing. Whether you want to work for the government, help within the agricultural domain, or are passionate about the finance industry, it is an exciting time to join the big data analytics workforce.