Big data is a catch-word which is used to describe volumes of both structured and unstructured data that are in clutter form and it becomes difficult to understand and process using the traditional database and software techniques. This is where big data comes to the rescue.
Big Data is a high-volume innovative form of data processing that enables enhanced insights, decision making and process automation.
Before you try to make some sense of big data, it’s very important to know its origins. There are an increasing number of big data sources every year, but mostly usually they fall into three main categories, they are:
Streaming Data: It is also called internet of things: It is a concept where the data reaches the IT systems from the web of well connected devices. The respective organization will be able to analyse this data and deicide which to keep and which not to and what requires further analysis.
Social Media Data: Social media data is increasingly becoming appealing to the marketing, sales and support functions. Since the data here is unstructured or in semi-structured form, it poses a unique challenge when analysing it.
Publicly Available Sources: Massive amounts of data are available through open data sources like US government’s data.gov, the CIA World Factbook or the European Union Open Data Portal.
Big Data, an information technology which also has the capacity to bring about dramatic cost reduction, substantial improvements, and time required to perform a particular task or a new product and service offering like many other information technologies. It can also support internal business decisions like traditional analytics.
Most often, the technologies and concepts Big Data allow organizations to achieve a number of different objectives, but usually companies’ concentrate on one or two. The most frequently chosen objectives is how the process is, that is, who leads the initiative, whether it will fit the organization and how to manage the project, than just the outcomes and financial benefits.
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