Nowadays we often keep hearing the term “Big Data” but there is a lot of confusion what it actually means.Data in itself is not a new invention. In my childhood,i used to remember devices such as floppy disk,hard disk of 500 MB to store data in the computer devices but now the data has increased so much that there are also hard disk for storing data upto tetrabyte, petabyte and some forms of online storage.Well,Big data in simple words is a term that describes large volume of data that requires new technologies and methods to capture,analyse and process the data.But its not the amount of data that is important,its what the organization do with the data that matters.
Characteristics of Big Data-
- Volume-Organizations that collect data from a variety of sources including business transactions,social media,machine to machine data has been really beneficial for storing big amount of data with the use of new technologies such as Hadoop which has solved the problem for data storage.Imagine the size of data facebook carries for unending uploads of status,photos and videos,their storage would have been really difficult if new technologies were not there.
- Velocity-Data streams in an unprecedented speed and must be dealt with a timely manner.
- Variety-Data comes in numerous type of formats-from structured,numeric data in traditional bases to unstructured text documents,email,video,audio and financial transactions.
Why is Big Data Important?
Big Data is mainly used for smart decision making,time and cost reductions,new product development and optimized offerings.Examples-
- Data was used to form this years budget
- For launching a new product in an organization
- If a mobile company wants to launch a new product,so at first the company would survey about the demand of mobile phones for that particular place.On the basis of the study the company would manufacture. mobile phones to meet the demands of the customers.So all the data required for the accomplishment of the project is big data.
Applications of Big Data-
- Understanding and Targeting Customers.
- Understand and Optimizing Business practices.
- Improving HealthCare and Public Health
- Improving sports performance
- Improving Science and Research.
Big Data is the future.As data is increasing at a faster rate so a lot of research and effort is put on to bring new technologies and innovations to handle the massive data and Hadoop is the most emerging framework for big firms like Facebook,Microsoft,IBM,Amazon etc.