Big Data and Bare Metal TOC & EXEC SUMARY GOES HERE ONCE PAPER COMPLETED Introduction The industry is inundated with articles on big data. Big data news is no longer confined to the technical web pages. You can read about big data in the mainstream business publications such as Forbes and The Economist. Each week the media reports on breakthroughs, startups, funding and customer use cases. No matter your source for information on big data, one thing they all have in common is that the amount of information an organization will manage is only going to increase; this is what’s driving the ‘big data’ movement. Organizations are relying on increasing amounts of information from a variety of sources, text, images, audio, video, etc., to analyze, improve and execute their operations. These information sources are very large and complex and include data sets that are structured and unstructured and today’s processing applications are inadequate and expensive. Industries suffering from big data challenges include the financial services, healthcare, retail, and communications, to name a few. These industries have been collecting data for years and with the advent of the ‘Internet of Things’ data is growing exponentially. The challenge is how to make sense of this data and turn it into business value – analytics and predictive analytics. The big data phenomenon is about collecting and storing large amounts of data and running analytics application ns on these large datasets.
Big Data is an expansive phrase for data sets so called big, large or complex that they are very difficult to process using traditional data processing applications. Challenges include analysis, capture, curation, search, sharing, storage, transfer, visualization, and information privacy. In common usage, the term big data has largely come to refer simply to the use of predictive analytics. Big data is a set of techniques and technologies that need or require new forms of integration to expose large invisible values from large datasets that are diverse, complex, and of a massive scale. When big data is effectively and efficiently captured, processed, and analyzed, companies
The emergence of big data has provided different avenues for organizations to use data to improve different aspects of their respective operations. Be it customer service, research and development, or market position, Big Data has the potential to be a significant driving force in all these areas. However, there’s still a significant gap between the ability of Big Data to produce insightful analytical information based on real-time data and the ability of organizations to capture and utilize this readily available tool. This is, in part, due to the fact that the systems and processes necessary to fully maximize the usefulness of Big Data is currently lacking in most organizations. This lack of a conducive habitat for Big Data is further magnified in new organizations without any knowledge of Big Data. For organizations that have that have little to no knowledge of Big Data, there must be a thorough assessment of the benefits of big data and how they could improve the organizations overall place in the market. There also needs to be steps taken towards the design of frameworks that will enable the organization to better capture and utilize Big Data.
Business thrive when they have the most accurate, up-to-date, and relevant information at their disposal. This information can be used for a plethora of pertinent markers in small and large businesses, relating to accounting, investments, consumer activity, and much more. Big data is a term used to describe the extremely large amounts of data that floods a business every day. For decades, big data has been a growing field, facing controversy on many levels, but as of late, it has been a major innovator in the challenge of making businesses more sustainable. Big data is often scrutinized for its over-generalization and inability to display meaningful results at times. When applied correctly, data analysis can bring earth-altering information to the table.
Big data is buzzword in every field of business as well as research. Organizations have found its application across various sectors from Sports to Security, from Healthcare to e-Commerce.
What does it mean to say “big data”? Big Data is more than just massive amounts of data stored together. It is more than just data delivered or analyzed fast. Meta Group’s Doug Laney described it as data that has volume, velocity, and variety (2001). This is the 3 V’s of Big Data and is widely used to define it. Additions to this definition include other V’s, such as veracity and value (XXX). What is volume? Volume could be 7 billion people speaking at once. It can be the data created by millions of Americans uploading photos, buying shoes online, or searching for the definition of Big Data. It is the volume of data being created by researchers at unprecedented amounts to chart the stars, to map the human genome, or to trend
Although we hear the term ‘big data’ frequently now, the true definition of big data does not seem to have a singular, agreed upon definition. Depending on who you ask, big data can mean many different things. What would seem to be the most intuitive definition of ‘big’ data is not necessarily the correct one. Though the size of the data is an important aspect, it is not always the defining factor. According to Dell EMC’s video, Big Ideas: How Big is Big Data, big data is “any attribute that challenges the constraints of system capability or business need.”1 Will Hakes, Co-Founder and CEO of Link Analytics, claims that big data cannot be defined in precise terms and is, effectively, a “rallying cry.”2 Hakes does, however, agree that any
Managing and analyzing big data is a huge task for all organizations of all sizes and across all industries. If a business’s plan to implement a data management tools there is a need for a more realistic way of capturing information about their customers, products, and services. Mining data is often in the terabytes and organizations need to be able to quickly analyze that data and then pull appropriate information needed to make managerial decisions. Further, with the insurgence of social media, smart devices and click-stream, data is generated daily on global networks through interactions. The use of data management technologies allow a company to interface unstructured data and structured data to gleam information that is usable for business managers to make sound business decisions, improve sales and to decrease operating costs. Big data integration and analysis has evolved for organizations to store, manage, and manipulate vast amounts of data then provide the appropriate information when it’s needed to meet business objectives.
According to a report from The International Business Machines Corporation, known as IBM, 90% of the data in the world has been generated in the last two years. Frank J. Ohlhorst (2013) explains how the concept of collecting data for use in business is not new, but the scale of data that has been collected recently is so large that it has been termed Big Data (p. 1). Company executives who choose to ignore Big Data are denying their companies an advantage over their competitors. Big Data analysis is fundamental for all fields of work; it provides an insight to large amounts of data that will answer questions and make discoveries to improve efficiency in all areas of the world.
The aim is to review the current ways of storing and obtaining data and compare them and determine the methodology used. Look into future methodologies and new developments in the industry. It is also crucial to assess how big data is already used and implemented into certain organisations. How the organisations improve their own businesses with this data and how it could help their clients with similar interests.
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
You may have heard the term “Big Data” often these days and the importance of analytics attached to it. The availability of good data set and analytics of it provide organizations ability to understand consumer behavior and future prospects. This has now become an essential part of every business operation. Data itself is not a new thing to humans, written records have been in existence since 4th millennium BC. What has changed recently is that with digital inventions and significant growth in internet access, most people are on the electronic grid for longer periods and spending lot of time on emails, messaging, entertainment and social media applications. This huge growth in data generation has given birth to the concept of
Big-Data can be defined as the large amounts of digital information companies and governments collect about human beings and the environment we are living in. The amount of data that is getting generated is expected to double every two years,
In recent years, there has been an increasing emphasis on big data, business analytics, and “smart” living and work environments. Though these conversations are predominantly practice driven, organizations are exploring how large-volume data can usefully be deployed to create and capture value for individuals, businesses, communities, and governments (McKinsey Global Institute, 2011). Big data refers to data volumes in the range of exabytes (1018) and beyond. Such volumes exceed the capacity of current on-line storage systems and processing systems. Data, information, and knowledge are being created and collected at a rate that is rapidly approaching the exabyte/year range. But, its creation and aggregation are accelerating and will
Presence of big data is a very common phenomenon now days, specially when talking about medium to large size corporation. Manyika et al., in their article (James Manyika, 2011) defined the term big data as “large pools of data that can be captured, communicated, aggregated, stored, and analyzed”. To clarify they suggested that big data refers to data, whose size makes it impossible to be processed by the typical software used for database management. Gartner (Gartner, 2012)defined big data in terms of its characteristics of high volume, high velocity and high variety. By volume, he referred to the size of the data, by velocity he referred to the speed at which the data is created and by variety he referred to the range of types of data.
Big data is not a hype, but it is the future. The big data industry continues to advance, and big data service providers are making it easier for companies to work with big data in driving their businesses. Progressively, greater volumes and varieties of data will be incorporated with more business processes to support better decision making and greater insight. Moreover,