The application of big data in the insurance market

Abstract

The term “big data” was used to characterise the enormous quantities of data that conventional techniques for managing such data cannot handle. Big data is crucial in numerous fields, such as agriculture, banking, data mining, education, chemistry, finance, cloud technology, marketing, and healthcare stocks. Analysis of massive datasets for hidden insights and previously unexplained correlations that might guide strategic planning and decision- making is known as “big data analytics.” Big data’s rising popularity may be attributed to its fast growth and many applications, such as Apache Hadoop, an open-source technology written in Java and supported by the Linux platform. The primary objective of this chapter is to provide a suitable and free option for big data applications in a network system and to discuss its advantages and simplicity of usage.