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Big data - its opportunities by Innes Donaldson






Big data - its opportunities by
Article Posted: 01/06/2016
Article Views: 198
Articles Written: 1483
Word Count: 399
Article Votes: 0
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Big data - its opportunities


 
Advice,Business,Consumer
Every challenge represents a new set of opportunities, big challenges bring forth big opportunities and big data is a big challenge. It challenges the way we have been viewing, storing, analyzing and interpreting our data. The term "Big Data" is kind of a misnomer since it implies that the only issue with today's data is its sheer size. There are lots more to Big Data than just its size.

Big Data applies to the set of data that can't be processed or gained insight into using the traditional tools and techniques. The amount of data in our world has been exploding. We capture trillions of bytes of information about customers, suppliers, and operations, and millions of networked sensors are being embedded in the physical world in devices such as mobile data phones and automobiles, sensing, creating, and communicating data. Individuals with smartphones and on social network sites continue to fuel exponential growth. Big data-large pools of data that can be captured, communicated, aggregated, stored, and analyzed-is now part of every sector and function of the global economy.

The possibilities and opportunities presented by the proliferation of big data are constantly evolving, driven by innovation in technologies, platforms and analytical capabilities. The Big Data can be defined by three of its main characteristics - Volume, Variety and Velocity of data . Till now we have just discussed about the size or the volume of data. With the proliferation of sensors, smart devices, social collaboration tools, enterprises today are faced with not only the traditional relational data but also data in a raw form, semi structured or unstructured form.

The sheer variety of data that are getting captured today presents a unique set of problems to our traditional tools and techniques in storing and analyzing them. As the volume and variety of data that gets captured or stored today has changed so has the sheer velocity at which this data is getting generated. With the emergence of RFID sensors everywhere and other information streams, the data is getting generated at such a pace that has made impossible for our traditional tools to handle. For many applications, the speed of data creation is even more important than the volume. Real-time data or nearly real-time information makes it possible for a company to be much more agile than its competitors.

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