Big data

In today's digital world, big data has inevitably become the trend through its enormous impact on different aspects of our life. It is undoubted that everyone takes advantage of big data every day in different ways, such as the exploring or recommendation page in different social media which brings you the newest information based on your interests or habits in the past. The power of big data is yet not only limited to social media and business operations as everyone can easily tell.

One interesting blog discusses how to profit from big data and the idea of its great potential. The author further explains the concept of big data by comparing it with oil. "The one big difference between data and oil is that you can only refine oil into a product once, then it’s gone. Data stays around. You can keep monetizing the same data over and over by refining it, analyzing it, combining it, and produce valuable new assets over and over." This comparison reveals the great potential of big data and encourages people to reconsider the use of big data and possibly create new opportunities for profits in the future. The author also points out the existing problem with our big data that is refinement and distribution. In other words, people have a great quantity of data but lack good quality of it. That indicates how data analysis plays an important role in arranging the data to generate value.

As I dived into more research regarding this topic, I found many other fields benefit from big data, such as the waste and recycling industry. As an article mentions one example, by using data, one waste management company can track which communities produce the most waste and thus target them for educating recycling methods. Moreover, the invention of a recycling robot profoundly improves the efficiency of recycling. By using data to categorize the waste based on patterns, textures or even brand logos, the robot can sort the waste in a cheaper, safer and more accurate way. The outcome is "a robot can sort nearly 60 cartons of recyclables per minute!" Apart from environmental protection largely relies on big data, almost every field in today's data-driven society is actively involved in dealing with different types of big data.

https://www.inzata.com/data-monetization-profit-big-data/

https://insidebigdata.com/2019/10/11/big-data-and-its-role-in-the-waste-and-recycling-industry/