Impact of Big Data in Various Industries

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What is the biggest source of data for big data management and analytics?

Server farms
Mobile devices (correct)
Desktop computers
Laptops

By the end of 2021, how many mobile devices are predicted to be in use globally?

15 billion (correct)
5 billion
20 billion
10 billion

Which technological advancement is often referred to as 'ondemand computing'?

Artificial intelligence
Cloud computing (correct)
Quantum computing
Blockchain technology

What is the impact of big data in healthcare according to the text?

Revealing useful insights for decision-making (D) Signup and view all the answers

In which sector did MGI study the impact of big data according to the text?

Healthcare (D) Signup and view all the answers

What does the growth in data and cloud computing open gates for according to the text?

Dynamic and scalable data analysis (B) Signup and view all the answers

What are two essential components of any system due to the sheer volume of data that needs to be managed?

Big data management and analysis (A) Signup and view all the answers

Why has the exponential growth of data led to challenges in storing and processing it effectively?

Data volumes are doubling every two years worldwide (C) Signup and view all the answers

Which industry has been significantly impacted by the management and analysis of large amounts of data?

Healthcare sector (D) Signup and view all the answers

What triggered the big data era according to the text?

Growing torrent of data and on-demand cloud computing services (D) Signup and view all the answers

What is one challenge associated with understanding big data as mentioned in the text?

Enormous challenges in storing, transmitting, and understanding the data (D) Signup and view all the answers

How has big data impacted the financial sector according to the text?

Big data has become increasingly popular in the financial sector (B) Signup and view all the answers

What are some additional issues related to big data, as mentioned in the text?

Networking, bandwidth, and cost of data storage (B) Signup and view all the answers

What does 'velocity' refer to in the context of big data?

The rate at which large amounts of data are produced, collected, and digested (B) Signup and view all the answers

Why is real-time processing essential for personalized advertising based on user behavior?

To match the rate at which data is created for real-time action (B) Signup and view all the answers

How can the ability to evaluate big data in real time impact humans' standard of living?

By enabling immediate detection of abnormalities and taking corrective actions (C) Signup and view all the answers

What is the difference between real-time processing and batch processing?

Real-time processing occurs as data is created or analyzed, while batch processing operates on a set of data at once (D) Signup and view all the answers

In what way can the inability to take advantage of big data in real time impact companies?

They might miss out on opportunities (A) Signup and view all the answers