All The Propaganda About Big Data
Every possible data that we come across from every corner of the globe from any source like social media sites, videos, cell phone GPS signals sensor networks, digital images, purchase transaction records, web logs, medical records, archives, military surveillance, e commerce, complicated scientific research and more could all be categorized under Big Data.
Big Data is nothing but an assortment of such huge chunks of data that gets rather laborious to generate, manage, store, process and retrieve as well as analyze. With the advent of the on-hand data based management tools or the traditional processing techniques, things have now become far less complicated. The very definition Big Data varies between individual companies as each of them defines Big Data based on their capacity, competence, human resources, competence, techniques and other parameters.
The Four V’s of Big Data
- Volume- Big Data is synonymous with volume. This could amount to hundreds f terabytes or foe that matter petabytes of information.
- Velocity- this essentially means the data that is flowing into companies which simply put an incredibly fast processing as companies always fall short of time.
- Variety- Big Data is not scripted to a structured format and can come in any form like structured, unstructured texts, audio, video, log files, images, simulations, 3D models, etc. a recent showed that as a large amount of data though not numeric but critical for the companies’ decision making process, it is time that companies thought beyond stock records, personnel files, finances, etc.
- Veracity- this primarily refers to the flippancy of the data available as this kind of data could get messy and rather untrustworthy. With the numerous forms of Big Data, both the quality as well as accuracy have now become complex to control for example, Twitter posts with hash tags, typos, abbreviations, colloquial speech, etc. But Big Data and analytics now permits to even work on these type of data as well.
Opportunities With Big Data
Why Has It Become Imperative to Learn and Implement Big Data
Data and data analysis could not have assumed more predominance now than ever before as the writing on the wall is for all to see and understand that for efficient decision making process in company, it has now become crucial to analyze the right amount of data with the right type of data. It is now time that companies like healthcare, pharmaceuticals, banking, public sector or IT started studying the data collected beyond stored databases and also began analyzing the intangible data as well in the form of weblogs, images, sensors, etc.it is by doing this kind of smart work that sets smart companies apart from the also ran because it is these companies that scan the data effectively to allocate resources adequately, increase their productivity and in the process motivate creativity.
Why Has It Become Vital to Analyse Big Data?
- It has now become indispensable a fact that similar to labour and capital, data and its effective management has now become one of the major factors in any of the major industries.
- Big Data when implemented by companies, can generate some vital information that can completely overhaul an organisations strategies for the better.
- Big Data assists in making customer demarcation easier thereby enabling companies to divert their focus towards more profitable and loyal customers.
- Big Data also helps in companies planning their strategies on planning their next line of products which in turn helps companies possess a pro-active approach towards their strategies at all times.
- The manner in which Big Data is implemented in companies can have a direct impact on growth, development as well as their ROI’s and make them stay way ahead of their competitors at all times.
The Process of Harnessing Big Data
As can be understood, it is not simple to process, store, process and do Big Data. Enhancing Big Data can get daunting as it demands a robust infrastructure and a state of the art technology that should take care of the privacy, security, intellectual property as well as the liability issues related to Big Data.
Some Recent Technologies
Companies today are now depending heavily on these technologies to do their Big Data analysis:
- Speedy and efficient processors
- Modern storage and processing technologies specially for unstructured data
- Robust server processing capacities
- Clustering high connectivity and parallel processing MPP
- Cloud computing
- Apache Hadoop/Hadoop Big Data
It is now incredibly apparent that Big Data is the need of the hour for companies that need to proliferate their business for it is Big Data that gives companies the Big sought after answers to questions that were haunting them for so long. The time has now come to companies to appreciate the fact that it is no longer the amount of data that gets generated that is important but what the companies end up doing with them that would re-define them from the others.