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Transactional data is generated from all the daily transactions that take
place both online and offline. Invoices, payment orders, storage records,
delivery receipts – all are characterized as transactional data yet data alone
is almost meaningless, and most organizations struggle to make sense of the
data that they are generating and how it can be put to good use.
O BIG DATA FRAMEWORKS
Hadoop
Cassandra
Apache Spark
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Structured
By structured data, we mean data that can be processed, stored, and
retrieved in a fixed format. It refers to highly organized information that can
be readily and seamlessly stored and accessed from a database by simple
search engine algorithms. For instance, the employee table in a company
database will be structured as the employee details, their job positions,
their salaries, etc., will be present in an organized manner.
Ex: RDBMS
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Semi-Structured
Semi-structured data pertains to the data containing both the formats
mentioned, that is, structured and unstructured data. To be precise, it refers
to the data that although has not been classified under a particular
repository (database), yet contains vital information or tags that segregate
individual elements within the data.
XML, JSON
Unstructured
Unstructured data refers to the data that lacks any specific form or structure
whatsoever. This makes it very difficult and time-consuming to process and
analyze unstructured data. Email is an example of unstructured data.
Audio, video files etc.
The Unstructured data is further divided into –
a. Captured
b. User-Generated data
a. Captured data:
It is the data based on the user’s behavior. The best example to understand
it is GPS via Smartphones which help the user each and every moment and
provides a real-time output.
b. User-generated data:
It is the kind of unstructured data where the user itself will put data on the
internet every movement. For example, Tweets and Re-tweets, Likes,
Shares, Comments, on You-tube, Facebook, etc.
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1) Healthcare
Big Data has already started to create a huge difference in the healthcare
sector. With the help of predictive analytics, medical professionals and HCPs
are now able to provide personalized healthcare services to individual
patients. Apart from that, fitness wearables, telemedicine, remote
monitoring – all powered by Big Data and AI – are helping change lives for
the better.
2) Academic
Big Data is also helping enhance education today. Education is no more
limited to the physical bounds of the classroom – there are numerous online
educational courses to learn from. Academic institutions are investing in
digital courses powered by Big Data technologies to aid the all-round
development of budding learners.
3) Banking
The banking sector relies on Big Data for fraud detection. Big Data tools can
efficiently detect fraudulent acts in real-time such as misuse of credit/debit
cards, archival of inspection tracks, faulty alteration in customer stats, etc.
4) Manufacturing
According to TCS Global Trend Study, the most significant benefit of Big
Data in manufacturing is improving the supply strategies and product
quality. In the manufacturing sector, Big data helps create a transparent
infrastructure, thereby, predicting uncertainties and in competencies that
can affect the business adversely.
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5) IT
One of the largest users of Big Data, IT companies around the world are
using Big Data to optimize their functioning, enhance employee productivity,
and minimize risks in business operations. By combining Big Data
technologies with ML and AI, the IT sector is continually powering
innovation to find solutions even for the most complex of problems.
Volume
Volume refers to the unimaginable amounts of
information generated every second from social media, cell phones, cars,
credit cards, M2M sensors, images, video, and whatnot. We are
currently using distributed systems, to store data in several locations and
brought together by a software Framework like Hadoop.
Facebook alone can generate about billion messages, 4.5 billion times that
the “like” button is recorded, and over 350 million new
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posts are uploaded each day. Such a huge amount of data can only be
handled by Big Data Technologies
Example: Every day we create approximately 2.5 quintillion bytes of data.
That's 10 million Blue-ray DVD's every day.
The world population is approximately seven billion people, and the vast
majority of people are now using digital devices. These devices all generate,
capture, and store data.
Variety
As Discussed before, Big Data is generated in multiple varieties. Compared to
the traditional data like phone numbers and addresses, the latest trend of
data is in the form of photos, videos, and audios and many more, making
about 80% of the data to be completely unstructured.
Example: Let's think about the different types of data, text, pictures, and film.
What about sound, health data from wearable devices, and many different
types of data from devices connected to the internet of things.
Veracity
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Veracity basically means the degree of reliability that the data has to offer.
Since a major part of the data is unstructured and irrelevant, Big Data needs
to find an alternate way to filter them or to translate them out as the data is
crucial in business developments.
Example: 80% of data is considered to be unstructured and we must devise
ways to produce reliable and accurate insights.
The data must be categorized, analysed and visualized.
Value
Value is the major issue that we need to concentrate on. It is not just the
amount of data that we store or process. It is actually the amount of valuable,
reliable and trustworthy data that needs to be stored, processed, and
analyzed to find insights.
Example: The emerging V is value. This V refers to our ability and need to
turn data into value.
Value isn't just profit. It may be medical or social benefits, or customer,
employee, or personal satisfaction.
The main reasons for why people invest time to
Understand Big Data is to derive value from it.
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Velocity
Last but never least, Velocity plays a major role compared to the others, there
is no point in investing so much to end up waiting for the data. So, the major
aspect of Big Data is to provide data on demand and at a faster pace.
Example: Every 60 seconds, hours of footage are uploaded to YouTube.
This amount of data is generated every minute.
So think about how much accumulates over hours, days, and in years.
• Big data analysis is not useful in short run. It needs to be analyzed for longer
duration to leverage its benefits.
• Big data analysis results are misleading sometimes.
• Speedy updates in big data can mismatch real figures.
• Travel behavior refer to the actual travel activity of people during their trips
such as related space and the season movement patterns of tourists.
• For Example:
• Where do tourists like to visit?
• When do tourists visit?
• What do tourists like or dislike at each of the visited locations?
• How do tourists travel between places?
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o Revenue Management :
Travelling and tourism industry faces the challenge of selling the right
product, to the right customer, at the right moment. All this requires
internal as well as external data.
Internal data like past customer expectation, occupancy rates, room
revenue and current bookings.
External data, like information about local events, weather, flights and
school holidays.
Both the internal and external data helps to get more accurate data. It also
assists in predicting future demand and anticipate it in advance.
Here big data usage basically gives an edge over the competitors and helps
the marketer to make a niche for themselves.
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Example: like we can find that details where tourist are preferring to going
most, which service they don’t like while travelling or staying in the hotel
after reviewing previous customers details, we can do that things better
than before.
o Reputation Management
• Big data has helped the functioning to get smooth, starting from billing and
payment to the use the mode of payment everything has become flexible.
• The augmented service are the services for which one is ready to spend so
much money.
• For example – Taj is a hotel and is known for its hospitality. The humble,
polite and courteous staff is the reason what differentiates it from the other
hotels. Employees are given separate training and a tough process is
followed by them to get themselves enrolled in the hotel management
courses.
• In the internet age, customers can leave reviews on a wide range of
different platforms, including social media sites, search engines, and
dedicated review websites, sharing their opinions and experiences.
Customer’s tendency is to trust reviews more than the website.
• Once this reviews has been gathered, hotels can use it to inform their
training efforts, in order to make improvements and ensure future reviews
are positive.
o Strategic Marketing
• In the travel industry, it might be difficult to get the right marketing done
because potential customers are varied in who they are, where they come
from, and what they are looking for.
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• But, big data helps tourism companies to adopt a more strategic approach in
their marketing efforts, targeting the right people in the right way.
• How?
• Big Data can help businesses to identify the trends that exist among the
customers, where the similarities are, and what the best marketing
opportunities are.
• It can also help businesses to understand where those people are and when
marketing is most relevant to them. This can enable marketing messages to
be sent, based on time, location and other data. This allows targeted
promotional content to be delivered.
o Customer Experience
• Customer experience is a factor that decides whether the customer will be a
loyal customer, need-based customers or wandering customer.
• A loyal customer is the one who makes up a minority of the customer base
but generates a large portion of sales. The main aim is to make the customer
loyal.
• Using big data can include everything from social media conversations and
online reviews to service usage data.
• Used effectively, this information can reveal which services customers use
most, which they do not use at all, and which they are most likely to request
or talk about. And after knowing this all the demands companies are starting
work on it.
o Market Research
• The travel and tourism industry uses big data to compile and analyze
information about its main competitors. In order to gain a clearer
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o Targeted Marketing
• The guest is extremely varied and they can be categorized into number of
categories.
• It will be according to their spending habits, purchasing power parities,
expectations. If we take two extremes like family on a holiday to business
travelers, the budget, focus and the purpose of staying in a hotel will be
totally different.
• This is where big data comes in the picture.
• By understanding the requirements, customer experience and doing market
research, the guest experience can be enhanced.
• Big data can even be used to predict which new products might work well in
their market.
• And also with help of big data they can offering some offers to their
customers which they are looking for the most.
• Airbnb
• TripAdvisor
• Make my trip
o Conclusion:
The growth rate of data production has increased drastically
over the past.
o References:
www.youtube.com/watch?v=bAyrObl7TYE
www.youtube.com/watch>v=tk0wlXUaGMM
https://www.knowledgehut.com/blog/big-data/types-of-big-data
https://www.gutcheckit.com/blog/veracity-big-data-v/
https://www.shutterstock.com/nl/image-vector/big-data-illustration-areas-like-volume-
1099891646
https://data-flair.training/blogs/big-data-in-travel-industry/
https://www.youtube.com/results?search_query=big+data+in+travel+and+tourism+
https://travelcompute.com/big-data-for-travel-tourism/