Big Data - Big insights 3
Extract No. 03 [Line, “Banking, Finance ………..minutely”]
A1. True or false : (02)
State whether the following statements are true or false.
1.Big Data helps in predicting cyber crimes as well as wrong transactions (T)
2.Social media network signals help majority of equity trading. (T)
3.Statistical analysis is very helpful in sports.(T)
4.Securities exchange commission(SES) cannot identify frauds in financial markets.(F)
4.Banking, Finance and Trading :
With the Big Data analytics, the investment patterns of the people can be studied. New insights have enabled the banks and Finance companies to come with suitable plans. Big Data has enabled smooth functioning of these agencies and institutions. Banking and finance sector is using Big Data to predict and prevent cyber crimes, card fraud detection, archival of audit trails, etc. By analyzing the past data of their customers and the data on previous brute force attacks banks can predict future attempts. Big Data not only helps in predicting cyber crimes, but it also helps in handling issues related atomized-transactions and failures in net banking. It can even predict possible spikes on servers so that banks can manage transactions accordingly. The Securities Exchange Commission (SEC) is using Big Data to monitor financial markets for possible illegal trades and suspicious activities. The SEC is using network analytics and natural language processors to identify possible frauds in the financial markets. High-Frequency Trading (HFT) is an area where Big Data finds a lot of use today. Here, Big Data algorithms are used to make trading decisions. Today, the majority of equity trading now takes place via data algorithms that increasingly take into account signals from social media networks and news websites to make buy and sell decisions in split seconds.
5.Sports :
When watching a cricket match, were shown so many permutations and combinations of statistical analysis. A gigantic data has been created over a period of time from the recording of matches, training sessions and workouts. The data enables a sportsperson to study his performance as well as of the other players worldwide. It has tremendously helped in improving individual as well as team performance. The sensors embedded in the sports equipment help us to understand our game from close quarters. The sensors help us to understand the field conditions, the weather, individual performance etc. Video analytics help us to see each and every performance minutely.
A2. Describe : (02)
Big Data can be very useful for financial agencies and institutions to come up with ideal plans for Customers.
With the Big Data analytics, the investment patterns of the people can be studied. New insights have enabled the banks and Finance companies to come with suitable plans. Big Data has enabled smooth functioning of these agencies and institutions.
A3. Conclusion : (02)
Compiling of Data turns very valuable in sports.
A gigantic data has been created over period of time from the recording of matches, training sessions and workouts. The data enables a sportsperson to study his performance as well as of the other players worldwide. It has tremendously helped in improving individual as well as team performance.
A4. Personal Response : (02)
“Can we prevent cyber crime?’ Write down the Precautions, a customer should take as a safeguard against cheating/cyber fraud.
A5. Language study : (02)
I)The investment patterns of the people can be studied.
( Replace the modal auxiliary by another showing,” possibility”)
The investment patterns of the people may/might be studied.
II)Big Data has enabled smooth functioning of these agencies.
(Rewrite the sentence using,” Present perfect continuous Tense”)
Big Data has been enabling smooth functioning of these agencies.
iii)Big Data algorithms are used to make trading decisions.
(Rewrite the sentence using the Gerund Form of the underlined word)
Big Data algorithms are used for making trading decisions.
iv)It has tremendously helped in improving individual as well as team performance.
(Rewrite the sentence using the,” Infinitive form” of the underlined word)
It has tremendously helped to improve individual as well as team performance.
A6. Vocabulary : (02)
Find out words from the extract which mean the following.
a)Internet or computer crime = cyber crime
b)To control = to monitor
c)Different ways in which a set of things can be used = permutations
d)Fixed something firmly or deeply = embedded
Activities Prepared by
MR.TUSHAR JAISINHA BAGWE.
K.J.SOMAIYA JR.COLLEGE OF SCIENCE AND COMMERECE
VIDYAVIHAR EAST MUMBAI 77
Mobile Number 9820928141
E Mail id : tushar@somaiya.edu
