Big Dat Seizing Opportunities, Preserving Values Review

As defined by the magazine, CQ Researcher, big data is the collection and analysis of enormous amounts of information by supercomputers (CQ Researcher, 1). This collection and analysis has led to many great feats in the fields physics, medicine, social

Big Data is not just simply come from itself it is been recorded and generated by some data generating source. For instance, if we have our ability to feel and realize the arena around us, from our own heart rate and getting the data of toxins that are present in the air we leave this will produce more than one million terabytes of unparalleled data for every day. Furthermore, scientific experiments will also produce petabytes of data today.

Big data is an interesting concept, in which people use data to analyze trends, patterns, and associations and make use of these revelations to predict outcomes. You are using data every day that is being recorded to identify people’s desires and requests, and more specifically your desires and requests. Big data is used in retail, government, healthcare, car companies, and education, basically everywhere. Big data can allow for great advancements and prevention in all aspects of life, more specifically in healthcare. Big data is important to healthcare, because it can allow professionals to identify who has a greater risk of a disease and thus allows early detection and prevention. It allows tracking which medicine is more effective than the other. It allows for healthcare providers to have better records and accuracy in each and every patient. Big data is important to healthcare and here is why.

What is Big Data? Big Data is the mass collection of user data by mathematical algorithms, databases, data mining, and the use of datasets that were once believed to be static and unusable. Big Data’s history goes way back “…70 years to the first attempts to quantify the growth rate in the volume of data, or what has popularly been known as the “information explosion” (Press, Gil).” Researchers had predicted the massive growth of information and how our ability to collect and store it would need to continue to grow as well.

Big data is nothing but collecting of datasets. Organizations in current world demands data to be broken down which can used to get more high effectiveness and benefit. Big data refers to the large amounts of data which collected from various devices such as mobiles, sensors and social media etc. Generally, large amount of data have been regenerating by IT industry such as satellite data, mobile devices and etc. This data is being growing rapidly day by day and it would be referred as Big Data.

Big data is anything which is too large for traditional databases to handle. They range from Terabytes of data to petabytes of data. Big data is generated from various sources, such as social media networks, oil wells, mobile phone conversations, weather data etc.

Big data is a relatively recent concept in the marketing world that describes the process of analyzing massive data sets to uncover trends. The data sets are so large that it would be almost impossible to find such trends without high-powered analytical technology. Big data has been facilitated by the ability to gather massive amounts of information about consumer profiles and shopping trends. The primarily facilitators of big data collection are credit card companies and online companies like Google and Facebook that track people's purchasing and computer usage patterns. Big data has been used in a lot of different industries to revolutionize everything from health care to manufacturing to government (Manyika, et al,

Big data is an extremely important topic for future developments, growth trends and similarities between certain things. From a Microsoft blog published in 2013 big data is “the process of applying serious computing power” (HowieT, 2013). Another article describes big data as data that “exceeds the processing capacity of conventional database systems” (Dumbill, 2012). Based on these definitions and many more alike, big data refers to or can be described as recorded information that exceeds capacity. As brief as this is, data can be recorded using many instruments and even through observation. This topic is interesting to research and develop as new technologies are more capable at storing and reading mass data. With technology advancements, a method that took half a day, more than ten years ago, would only take a couple of minutes using present technologies. As big data is getting more widely used more businesses and enterprises will be interested in the trends shown.

Like the traditional data, big data through a series of steps that contain collection, storage and analysis to form a complete system to help both enterprises and individuals produce an optimum strategy or decision and maximize benefits in their stance. As for traditional data system, it is usually not enough accurate in analyze the phenomenon or the situation due to lack of sufficient data that results from the speed of collecting data is relatively low and the process

Big data refers to the growing data a company experiences but this data has to be managed and processed to convert it into useful information. For example, a company XYZ just launched an e-commerce website and its receiving a

Big data is an extensive collection of structured and unstructured data. It is a modern day technology which is applied to store, manage and analyze data that are not possible to manage, store and analyze by using the commonly used software or tools. Since all of our daily tasks are overtaken by the modern technologies and all the businesses and organizations are using internet system to operate, the production of data has increased significantly in past

Big data is defined as “large data sets or to systems and solutions developed to manage such large accumulations of data, as well as for the branch of computing devoted to this development.” (“Big Data”) This definition of big data was not added to the dictionary until 2014. The next big thing in business analytics is a relatively new, yet, explosive business practice known as data mining: the collection and analysis of big data. (Fayyad) These large, seemingly random, sets of data are condensed and analyzed for patterns and trends by people with a very broad set of skills. These people are known as data scientists and are considered unicorns in today’s job market.

Big Data embraces structured, semi-structured and unstructured information. It can be demographic or psychographic information about the customers, their opinions, product reviews etc gathered from variety of sources such as tweets, blogs, other social media content, technical devices like sensors and stream of data from mobile devices. Businesses have started using Big Data to get right information to identify right markets and right customers at the right time in order to make right strategic decisions. The Big Data market is estimated to grow to $32.1 bn by 2015 and $54.1 bn by 2017. According to the report “Be Careful or Big Data Could Bury Your Bank”, the world creates 2.5 quintillion bytes of data daily and last 2 years have contributed to almost 90% of the data which exists today. It empowers institutions to learn more, create more and do more using the data available with them.

Data is a powerful weapon as well as a resource. Having data does not make you powerful but what you do with it makes all the difference. Companies like Amazon, eBay and Netflix are already using data to predict user behavior and utilizing that to increase their revenue. But processing data in real time is not an easy task. The data today has great volume, is veracious in nature and is increasing at an enormous rate and hence has been given the term Big Data. There is a constant research going on to find a solution to process such huge amount of data in real time.

So what exactly is Big Data? This can be a point of contention amongst even those who work with big data all the time so the description that follows is only one of many. Big Data is best characterised by 3Vs: volume, variety and velocity. Volume refers to the extreme amounts of data, variety to the varying types of said data and velocity to the speed at which the data must be processed. Big Data does not actually refer to a specific quantity of data as many might assume by looking at the term but it is often used when speaking about massive volumes of data in the range of Exabyte’s (Rouse, 2014), most of which cannot be integrated easily.