A Research On Big Data

1301 Words Sep 5th, 2015 6 Pages
It is hard nowadays not to hear news about “big data”. As technology continues to grow, companies are constantly trying to leverage them to remain competitive. Scientists, governments, and even the media are now also invested in extracting big data for their uses. McKinsey Global Institute (2011) defines big data as “datasets whose size is beyond the ability of typical database software tools to capture, store, manage, and analyze”. Furthermore, Barnatt (2012) explains that big data can be categorized into the three V’s: volume, velocity, and variety. Technologies like the internet, smartphones, computers, appliances, and automobiles are creating expansive amounts of data every second which contributes to the volume of data. Velocity refers to the rate of data flow like tweets and posts from social media. Finally, variety refers to the different digital mediums like photographs, audio, video, and other unstructured data. There are many examples of good uses for these big data between the different sectors that are promising. However, there are also questions on the validity of using them. McKinsey Global Institute (2011) estimated that big data could save $300 billion a year in the US healthcare system. They further state that big data can play a major role in this sector to provide better products and services. For example, they noted that Kaiser Permanente used big data to prove that Vioxx was a dangerous drug and successfully had it withdrawn from the market.…

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