Big Data is being produced at all times by everything around us; social media, daily eCommerce transactions, online and offline activities etc. Companies from a wide variety of industries are reaping benefits from the collection, analysis, and manipulation of large amounts of data from a vast variety of sources. This is creating more opportunities and investment environment for Big Data around the world and very much in the very populated USA:
Big Data Skills
As businesses continue to see the importance of making data-driven decisions, there is a high demand for individuals with skills to analyse, manage and help organizations use Big Data effectively. Fortunately, the USA has many professionals that have the power to harness Big Data, evidenced by so many companies dedicated to Big Data and analytics in the country. There are also a lot of universities in the US that offer Big Data programs including Columbia University, New York University, Carnegie Mellon University (CMU), Northwestern University, and many more. The availability of Big Data is skills makes the USA the best environment for the development of Big Data industry.
The Government Adoption and Use of Big Data
The adoption and use of Big Data within the USA governmental processes is useful and allows efficiency in terms of innovation, productivity, and cost. In 2012, the Obama government announced the Big Data Research and Development Initiative, to find out how Big Data could be used to tackle problems that are faced by the government. During Obama’s successful 2012 re-election campaign, Big Data Analytics played a big role.
Globally, the US Government has six of the ten most powerful supercomputers. In addition, the United States National Security Agency has constructed the Utah Data Centre, a storage facility designed to handle a large amount of data collected by NSA over the internet.
Government adoption and use of Big Data improves the investment climate of the sector. The government’s investment in the industry means that the US government cannot interfere with Big Data businesses.
Regulation of Big Data
In the US, there are no specific laws that regulate Big Data. Instead, there are many national privacy-related laws that regulate data collection and use. Some apply to specific information categories, such as electronic communications, health or financial information. Others are applicable to undertakings that use personal information, like commercial email and telemarketing. In addition, there are a lot of consumer protection laws which although they are not privacy laws, prohibit deceptive and unfair practices involving security procedures for protecting personal information. Generally, regulation of Big Data in the USA ensures that investment environment promotes competition and fairness in the market.
Application of Big Data
Small and large enterprises, across all verticals, are applying Big Data in the USA. Many industries are investing in Big Data and business analytics. As different companies embrace and use Big Data, the USA will be one of the regions where billions of dollars will be invested in the Big Data and analytics market.
In the banking and securities industry, Big Data is used to monitor financial market activity. For instance, The Securities Exchange Commission (SEC) uses network analytics and natural language processors to detect unlawful trading activity in the financial markets. In the health sector, Google Maps and free public health data is used to make visual data that enables faster identification and efficient analysis of healthcare data, used in tracking the spread of disease. Currently, Obamacare is utilizing Big Data in a variety of ways. Other fields where Big Data is currently applied in the USA are education and manufacturing industries.