Super Crunchers: Why Thinking-by-Numbers Is the New Way

him with the idea of using food as a vehicle for numeric expression. He was immediately receptive to the proposition. “There’s a lot of meaning attached

The challenge is that they require a unique way of collecting, managing and visualizing technologies which makes it one of the four major technology trends in the 2010s. (IBM tech trend report 2011). A report by the McKinsey Global Institute (Manyika et al. 2011) predicted that by 2018, the United States alone will face a shortage of 140,000 to 190,000 people with deep analytical skills, as well as a shortfall of 1.5 million data-savvy managers with the know-how to analyze big data to make effective decisions.

According to the article, 2.8ZB of data has been created and replicated in 2012. The proliferation of devices such as PCs and smartphones worldwide, increased Internet access within emerging markets and the boost in data from machines such as surveillance cameras or smart meters has contributed to the doubling of the digital universe. IDC projects that the digital universe will reach 40 ZB by 2020, an amount that exceeds previous forecasts by 14%. Thus, data is not narrowed to big only; it is actually huge. Like, 40 ZB data is the equivalent of 1.7 MBs of new information created by the every single human for every second of the day. Developing countries like China and India are currently covering 36% of digital universe; the prediction says it will be increased up to 62% by 2020. So the companies will have numerous scopes to dig out more data and analyze them as per their requirement. Despite the unprecedented expansion of the digital universe due to the massive amounts of data being generated daily by people and machines, IDC estimates that only 0.5% of the world’s data is being analyzed.

Big Data is becoming more meaningful with the ever more powerful data technologies, which enable us to derive insights from the data and help us make decisions. Big Data also creates new courses and professional fields such as the data science and data scientist, which are aimed at analyzing the ever growing volume of data. Some might think this exaggerated because data analysis, after all, not a new invention. However, we might all agree that the progress of digitization associated with the generation of ever larger amounts of data have totally changed the ways we deal with data.

In today’s world, data is being amassed at an unprecedented scale. Large amounts of data generated by and about people and their interactions are being collected, analyzed, and stored for future use. Organizations are able to gain access to a variety of data sources including call logs, text messages, emails, client chats, social media pictures, videos, and posts, RFID, Geographic Information Systems (GIS), and much more. The reception of Big Data is described by boyd and Crawford (2012) as being “seen as a powerful tool to address various societal ills, offering the potential of new insights into areas as diverse as cancer research, terrorism, and climate change” as well as being “seen as

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.

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.

large amounts of data everyday . Big data is the technology which analyses large sets of data

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.

The amount of users’ information tends to increase every year. As can be seen in Chart 1, between 2005 and 2011 the digital information created globally had a sharp increase, reaching a peak of 1.800 billion gigabytes in 2011. The business report – big data gets personal, emphasizes that in 2012 the amount of data created reached 2.8 zettabytes and also predicts that this amount of data will double in 2015, a number that is as gigantic as it sounds. As also shown in Chart 1, about 75% of all digital

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

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

Big Data is Large sets of information that may be analyzed to reveal patterns or trends. So how does it start small? In the beginning of this episode one of the speakers says, “Every single data point has a human story.” Today many people are pursuing their passions, while being able to gather data. This data is not only useful for research, but can save lives. Warnings for flash floods, disaster reliefs maps, or protecting our planet — We, “The Crowd” can play a big role in our communities or even half way around the world.

Data-mining and the concept of 'Big Data ' are ideas that have grown in popularity over the last three decades as technology has grown and expanded so rapidly. Iqbal Pittawala explains that “Big Data refers to a technology phenomenon that has arisen since the mid-1980s. As computers [improve], growing storage and processing capacities [provide] new and powerful ways to gain insight into the world by sifting through the infinite quantities of data available” (Pittalwala, 1). With the increase of the popularity of Big Data, we 've been able to discover trends in our society we had not noticed before. However, there is a danger in Big Data. While information is being collected on us, do we really know what is being done with it? Big Data can be used to discover valuable trends, but it can also become a violation of one 's personal privacy.

Computer-based technologies have lot of impact on the way we live, work, and play and socialize. The methods of analytics and datamining had changed over the past few decades. In 1970s datamining played an important role in scientific fields such as physics, biology, and climate science. In mid-1990s and into the first decade of the new millennium, data mining and analytics played important role in business practices.