Big Data Analysis Paper

The concept of Big Data management is becoming more important to modern organizations by giving them the ability, from its analytics, to predict future trends and make better decisions. The advancements in modern technology has greatly revolutionized Big Data management by providing better techniques for data collection, storage, transmission, presentation, and analytics. The use of the internet has boosted availability of data for many organizations, giving a speedier growth to data.

The term “Big Data” has been around for quite some time and has been catching everyone’s attention with remarkable speed. A plethora of questions do pop up in our mind sometimes. What is big data, is this something absolutely new, how can it be leveraged to create value for an organization and so on. For many years, companies have used various transactional records stored in relational databases to make competitive business decisions. But how long can we sustain or depend on these traditional methods of doing analysis and coming to a conclusion. There is an ocean of non-traditional, less structured data such as weblogs, social media, email, sensors, and photographs that can be mined not only for useful information but also to make strategic decisions.

Big Data is defined as data sets that are so large that they defy conventional applications, frameworks and methods for analyzing them. The proliferation of Big Data is attributable to the amount of data companies across all industries are capturing on transactions with suppliers, customers, distribution channels and services organizations over years of activity. Big Data, by its very nature of spanning a multitude of databases and conventional data storage platforms within organizations, becomes difficult to capture, store, search and complete analytics on. For the manager in an organization who has these conventional methods of data search, analytics and visualization available to them, Big Data can quickly become overwhelming given the limited scope of tools available and the sheer amount of data available (Jacobs, 2009). For the manager attempting to gain greater insights into their organization's processes, strategies and overall performance, Big Data can quickly becoming overwhelming. The intent of this analysis is to provide guidance to managers on how they can better manage Big Data to provide the maximum analytical insight and intelligence about their organizations.

Big Data has developed over the years new and more complex methods that allows them to see market evolution, their position on the market, the efficiency of offering their services. For being able to accomplish that, a huge volume of data is needed in order to be mined so that it can generate valuable insights.

Several explanations were given about the buzzword “Big Data”. Big Data describes a process in which “serious computing power” is applied to “seriously massive and often highly complex sets of information” (Microsoft Research, 2013). Big data is also defined as a cultural, technological, and scholarly phenomenon” based on three elements such as Technology, Analysis and Mythology (Boyd and Crawford, 2012). The first reason behind the quick expansion of Big Data is the extensive degree to which data are created, shared and utilized across the organizations and virtual networks formally and informally in the recent times. Digitization, that is, the transformation of analogue signals into digital ones, reached massive popularity in the early 1990s. The data-information-knowledge-wisdom hierarchy offers an alternative view, according to which information appears as data that are structured in a way to be useful and relevant to a specific purpose (Rowley,

There are several new IT technology that have recently emerged, or will do so in the next coming months, that can provide a significant impact for the way in which companies conduct business. IT technologies are an integral component of most business processes today, for the simple fact that even conventional mom and pop business ventures are recording and accessing information electronically for the expedient delivery of service, products, and proper structuring of their own professional processes. Some of the more valuable IT trends to recently surface include the widespread usage of strategic big data, the increasing ubiquity of mobile devices as the preferred method of internet, communication, and data accessibility connections, the mainstream deployment of HTML 5, and the emergence of in-memory computing.

Big Data has taken the business world by storm. By 2020, it is expected that the amount of digital information in existence will have grown from 3.2 zettabytes in 2014 to 40 zettabytes. Companies are doing all they can to capture this digital information and turn it into actionable insights. Currently, the total amount of data being captured and stored by industry is doubling every 1.2 years. Therefore, companies must find increasingly efficient solutions to store and analyze this incredible amount of data.

Big Data has gained massive importance in IT and Business today. A report recently published state that use of big data by a retailer could increase its operating margin by more than 60 percent and it also states that US health care sector could make more than $300 billion profit with the use of big data. There are many other sectors that could profit largely by proper analysis and usage of big data.

Every minute we send 204 million emails, generate 1.8 million Facebook likes, send 278 thousand Tweets, and up-load 200 thousand photos to Facebook (Source: www.scoopintel.com). With every click, search and share, the world’s data pool is expanding. For centuries, companies have been making business decisions based on transactional data stored in their databases. Beyond that limited internal data, is huge amounts of untapped data that can be gathered from non-traditional sources like emails, blogs, and social media and search engines. Companies have started paying attention to data from these

This article can be regarded as current since it was published in 2013. What is more, the authors of this text both work for the department of business in the universities. They may have specific expertise or knowledge in the field of big data as it is an essential factor in business. Furthermore, Business Intelligence Journal contains a professional data warehouse for business. As a result, this article is also authoritative and reliable. Besides, as a journal article, not only does it follow the usual academic conventions like in-text citations and references, but also its language is impersonal and formal, which seems to be objective. Big data has become a useful tool to help companies make decisions and turn to customer-centred

In day today world social media and social networking has received much attention from every people, like almost everyone has a Facebook account. This is where huge amount of data is being processed every day, in fact every second where Social networks accounts for large amount of consumer "big data". The average global Internet user spends two and a half hours daily on social media, in this scenario just consider how much data is being generated every minute by every user. The leading social networking sites are handling this big data in efficient way, when it reaches a comparison stage there's no beating Facebook in driving traffic to publishers. According to the data form US news the world's largest social

Big data is certainly one of the biggest buzz phrases in it today. The term ’Big Data’ appeared for first time in 1998 in a Silicon Graphics (SGI) slide deck by John Mashey with the title of ”Big Data and the Next Wave of InfraStress” [9]. -Combined with virtualization and cloud computing, big data is a technological capability that will force data centers to significantly transform and evolve within the next five years. Similar to virtualization, big data infrastructure is unique and can create an architectural upheaval in the way systems, storage, and software infrastructure are connected and managed. Big data is an amalgam of large and varieties of data sets including structured data, semi structured data and unstructured data so it’s beyond the capability of traditional tools to capture, store, process and analysis of big data. It is true that big data have capability of unlocking new sources of development in many fields but at the same time researchers are being confronted challenges with big data. This paper reveals the various challenges faced with big data and opportunities realized with big data. Keywords: Big data, Challenges, Opportunities, Security Issues.

In a dynamic global economy, companies and organizations have started to rely more and more on statistics gathered from their customers insights and behavior, internal processes and business operations with the aim of finding new opportunities for growth. In order to find and determine this information, large complex sets of data should be generated and analyzed by skilled professionals. The compilation of this large collection of data is known as “Big Data”.

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.

Big Data is one of the most discussed concepts in the business world today. The concept of Big Data is one that has been increasingly debated over the past few years by many different kinds of business industries. One industry where this discussion is prominent is the accounting profession. Big Data will be defined more in-depth later on, but in shorter terms, Big Data refers to the exponential sum of data available in our world today. This amount of data is beyond the traditional analysis that can be computed by human power. When Big Data is converted and used to its full potential, it could have a material impact on the accounting industry as we know it. Companies today must stay on top of the Big Data trend if they wish to