The Age Of Big Data Essay

Big data analytics is the process of analyzing large data to find useful information such as improving efficiency of business, market trends, customer’s preferences, information of competitors, and other useful business information. According to the IT Glossary, “Big Data is high-volume, high-velocity, and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.” In other words, it is an abundant array of information used to acquire insights and make business decisions.

Being able to look at my screen at seemingly arbitrary numbers and be able to extract knowledge and valuable insights has become a passion of mine. I have not only incorporated data into my occupation but has is now become more of a lifestyle. Long before I realized it, data has always been driving my decisions, whether it is in a business setting, selecting a restaurant or just purchasing items. I have always been one to analyze multiple sources and collect all the facts and information before coming to the best

Many people have become so immersed in data, that they are unable to recognize the data that they have been exposed to. For example, many college students either watch tv or listen to music while completing homework. Students often time just see this as background noise when in reality this is data that become stored in your unconscious mind. The film Big Data gives a visual account of how much data streaming has impacted society both negatively and positively through the use of data analysis. Data has taken away the ability to remain anonymous and has also sparked a decline in human interpersonal skills. However, Data also has allowed humanity to collect new information providing new solutions to world issues. The film Big Data is able to

Each type of analytics as seen on the diagram above, could share a common sub group which could in turn have additional classifications. understanding and reviewing the different types of analytics systems and choosing those that best suite an organization is very helpful in determining the analytic plan for the future of the business. Succeeding in this, will definitely give a boost to the overall value of a business platform.

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 field of data analytics and business intelligence excites me because it is a field where I can learn applicable “hard,” “technical” skills that are required to execute quality work.

An analytical mind is essential to strategy and innovation because only a detailed understanding of the underlying problem enables the discovery of a novel approach to solving the actual cause rather than just the problem. Throughout my extensive training in computer science, I developed comprehensive analytical abilities such as conceptual problem decomposition, root-cause analysis, and solution inference. I love to contribute my analytical skills to the collaborative learning culture just as much as my international experience.

Big data and its definition has changed over the years. In a 2011 research project by MGI and Mckinsey’s Business’ defined big data as

The promise of data-driven decision-making is now being recognized broadly, and there is growing enthusiasm for the notion of ``Big Data.’’ While the promise of Big Data is real -- for example, it is estimated that Google alone contributed 54 billion dollars to the US economy in 2009 -- there is currently a wide gap between its potential and its realization.

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.

It’s quite common that every task that we perform, we check whether it is being executed in the expected way. Ultimately, if it’s going in a right path well and good but the actual question arises when it’s the other way. This is the point where analytics come into picture. The need for analytics is very much known to us because it can be one of the most powerful driving factors to tune the performance of an organization’s processes, strategies and uplifting revenue.

Today, data is a growing asset that various businesses are having difficulty converting into a powerful strategic tool. Companies need help turning this data into valuable insight, which can diminish risk and enhance returns on investments. Companies are struggling to make sense and obtain value from their big data. Superior and reliable

Big data is essentially the concept that relates the presence of big data volumes that are generated from a wide range of sources as well as channels, which the business has access to and can manipulate using the varied tools to make it valuable to the firm. In any business, it does not matter which field a person works in, data keeps on being generated and it has to be managed carefully if it is to be turned into a valuable asset that the business can utilize to realize a competitive advantage. Even the smallest and most basic business today generates huge amounts of data. Whether the business is able to turn the data and information into a resource that can boost business operations remains to be the issues under consideration. Volume is the main factor as far as the big data is concerned – data is

This chapter considers the challenges and opportunities around storage, sharing and usage of data – particularly large datasets. An increasingly important area of IT/Computer Science/Informatics is data science and as big data has become more prevalent across many industries and sectors there has been the emergence of larger numbers of highly skilled data scientists to support the challenges of data storage, sharing and usage. Such experts can provide far more comprehensive advice and expertise than such a short chapter, however, the key considerations of a data scientist are set out in this chapter to help explain the value that such expertise brings.

Analytical tools that are advanced and more complex to understand usually require the person analyzing the information to have a specialization with these skills. However, there are many different interactive tools and software that “enable almost any business user to become an analyst and identify trends on the fly.” (Lampitt Online) These are helping companies to save money from hiring analysts and have many employees making sense of the data they are collecting. EBay has used software and techniques to have an analytical culture among their employees.