The rapid advancements in technology have led to a resource that has made the world’s companies richer than in the oil boom era. Big Data is the oil of the 21st century, and it’s making waves on the global scene, helping giant corporations make informed business decisions. Moreover, the amount of data being collected just keeps growing as we deal with all aspects of our lives, from healthcare to social and professional.
For example, healthcare experts are using big data to create personalized treatment plans for individuals, while manufacturing companies use it to monitor and even predict failures in their systems. The gaming world is also using Big Data to learn user patterns and introduce new and immersive classic casino slots to cater to the tastes of different audiences. Gameplay aside, Big Data is also a vital tool that is used to secure the most reliable gaming platforms such as Vulkan Vegas online casino because of the amount of money involved. If you’ve been having questions about how Big Data assists with providing such solutions, we shall cover all the strides that this lucrative resource has helped us make in our world today. But first, let us look at the origins of this data.
Where Did Big Data Come From?
Research shows that 90% of the data that has been produced in human history to date was created after 2010. Therefore, it means that data has grown to become ‘big data’ in just over a decade. It’s projected that by 2025, the world will be generating 120 billion gigabytes of data every day. The power that large companies have with access to most of this data has made billionaires and, very soon, trillionaires. But with great power comes great responsibility, and that is where big data security and privacy issues come into play.
Since it’s an essential resource in our world today, data security techniques need to be applied to protect big data from cybercriminals looking to use it for their gain. This means that changes have had to be made to ensure that there is not just efficient data mining but also data handling and protection. We are talking about avoiding data breaches like the 2019 Facebook data breach that left more than 500 million accounts from 106 countries exposed. Yahoo has also had several breaches, with the biggest being the 2013 attack that affected over 3 billion accounts. The aftermath of these breaches is still being felt to date.
Big Data Security Approaches
The need to guarantee big data privacy and security has never been more critical for businesses. Consumers are already aware of the risks, but they also know that there are numerous benefits. Companies collecting data have had to quickly develop solutions that transcend the basic cybersecurity techniques, including data encryption, tokenization, anonymization & masking, data security analytics and data governance & compliance. The expansion of the big data market majorly relies on the ability of organizations to keep up with the rapid growth.
AI/Machine Learning has become an integral part of big data and is the driving force that provides the theories and methods used in big data. However, that is not the only role AI plays in big data; it is also being used to analyze cyber incidents and detect potential weaknesses and threats in the systems and new malware types. While it’s possible for AI to be exploited for malicious use, companies that work with big data security vendors have seen much success in protecting their big data.
GDPR Legislation
Even before the Facebook breach, customers became more and more conscious of sharing their personal data, fearing that governments and businesses would misuse their personal data. While the data collected can provide better services and personalized solutions to consumer problems, storing it for too long may open it up to data breaches by malicious third parties.
That is why the General Data Protection Regulation came into place in 2018 to make companies accountable for their use of collected data. While it is an EU regulation, its scope filters into companies outside of the EU, affecting how they deal with any data that can identify an individual. Users also have the right to request that their data be deleted. The fine for non-compliance is up to €20 million or 4% annual revenue (whichever is higher) for companies.
Although it benefits individuals specifically living in the EU, companies have had to rethink their approach to the handling of personal data. With GDPR and similar regulations being put in place, we foresee a future where individuals have ownership of their data and businesses simply manage it.
What The Future Holds
Big data collection is exploding due to the increase in sources, including the ever-increasing IoT devices, social media, e-commerce sites, and many more. This poses challenges that need to be addressed from the root, especially when factors such as the 3 V’s (volume, velocity and variety), management environments and people are considered.
Considering the security threats big data companies find themselves in daily, the question on everyone’s mind is ‘Will big data eventually blow up or will it blast us off to an even brighter future?’. Well, we can only hope that the advancements in ways to secure big data will be enough to protect the critical information that it holds. But then again, the rate of technological advancements in our day provides some glimpse of hope.
