Big Data:
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Big data is being generated by everything around us at all times. Every digital process and social media exchange produces it. Systems, sensors and mobile devices transmit it. Big data is arriving from multiple sources at an alarming velocity, volume and variety. To extract meaningful value from big data, you need optimal processing power, analytics capabilities and skills.
3 components of Big data:
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Big Data is a phrase used to mean a massive volume of both structured and unstructured data that is so large it is difficult to process using traditional database and software techniques. In most enterprise scenarios the volume of data is too big or it moves too fast or it exceeds current processing capacity.
1> Volume. Organizations collect data from a variety of sources, including business transactions, social media and information from sensor or machine-to-machine data. In the past, storing it would’ve been a problem – but new technologies (such as Hadoop) have eased the burden.
2> Velocity. Data streams in at an unprecedented speed and must be dealt with in a timely manner. RFID tags, sensors and smart metering are driving the need to deal with torrents of data in near-real time.
3> Variety/Complexity. Data comes in all types of formats – from structured, numeric data in traditional databases to unstructured text documents, email, video, audio, stock ticker data and financial transactions.
Impact of Big Data:
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Big data is changing the way people within organizations work together. It is creating a culture in which business and IT leaders must join forces to realize value from all data. Insights from big data can enable all employees to make better decisions—deepening customer engagement, optimizing operations, preventing threats and fraud, and capitalizing on new sources of revenue. But escalating demand for insights requires a fundamentally new approach to architecture, tools and practices.
- Competitive Advantage: Data is emerging as the world's newest resource for competitive advantage.
- Decision Making: Decision making is moving from the elite few to the empowered many.
- Value of Data: As the value of data continues to grow, current systems won't keep pace.
References:
http://www.webopedia.com/TERM/B/big_data.html
https://www.ibm.com/big-data/us/en/
http://www.sas.com/en_us/insights/big-data/what-is-big-data.html
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Big data is being generated by everything around us at all times. Every digital process and social media exchange produces it. Systems, sensors and mobile devices transmit it. Big data is arriving from multiple sources at an alarming velocity, volume and variety. To extract meaningful value from big data, you need optimal processing power, analytics capabilities and skills.
3 components of Big data:
---------------------------------
Big Data is a phrase used to mean a massive volume of both structured and unstructured data that is so large it is difficult to process using traditional database and software techniques. In most enterprise scenarios the volume of data is too big or it moves too fast or it exceeds current processing capacity.
1> Volume. Organizations collect data from a variety of sources, including business transactions, social media and information from sensor or machine-to-machine data. In the past, storing it would’ve been a problem – but new technologies (such as Hadoop) have eased the burden.
2> Velocity. Data streams in at an unprecedented speed and must be dealt with in a timely manner. RFID tags, sensors and smart metering are driving the need to deal with torrents of data in near-real time.
3> Variety/Complexity. Data comes in all types of formats – from structured, numeric data in traditional databases to unstructured text documents, email, video, audio, stock ticker data and financial transactions.
Impact of Big Data:
--------------------------
Big data is changing the way people within organizations work together. It is creating a culture in which business and IT leaders must join forces to realize value from all data. Insights from big data can enable all employees to make better decisions—deepening customer engagement, optimizing operations, preventing threats and fraud, and capitalizing on new sources of revenue. But escalating demand for insights requires a fundamentally new approach to architecture, tools and practices.
- Competitive Advantage: Data is emerging as the world's newest resource for competitive advantage.
- Decision Making: Decision making is moving from the elite few to the empowered many.
- Value of Data: As the value of data continues to grow, current systems won't keep pace.
References:
http://www.webopedia.com/TERM/B/big_data.html
https://www.ibm.com/big-data/us/en/
http://www.sas.com/en_us/insights/big-data/what-is-big-data.html
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