The Growth And Availability Of Data

1804 Words8 Pages
Introduction “Big data is a popular term used to describe the exponential growth and availability of data, both structured and unstructured. And big data may be as important to business – and society – as the Internet has become. Why? More data may lead to more accurate analyses.” (SAS, 1) What is big data and how is it defined in today’s modern world? In 2001 Doug Laney Articulated what Big Data meant and this has become the industry standard for the idea. (SAS, 1) More accurately he described the three main attributes that defined Big Data. Laney articulated this idea during a period when Big Data was in its infancy. The amount of Data that could be stored did not allow for the level of analysis that is now common practice fourteen years later. This level of analysis is both changing the way we do business and changing the way we save lives. The amount of data collected from social media alone has completely revolutionized the marketing world allowing for targeted marketing campaigns at certain demographics. Laney described big data in three ways. (SAS, 1) 1. Volume: (SAS, 1) The amount of data, and more importantly the ability to cheaply store large amounts have data have contributed to a better understanding of many fields. There are an ever increasing amount of data as social media continues to saturate the online experience. Social media sites such as Facebook and Twitter can generate Petabytes of data that can then be distilled. There is also the emergence of the IoT
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