Our every day life has changed forever, thanks for the ubiquitous smart phones and technology dependent information age. We leave a trail of data while travelling, shopping, driveing, bloggin, and even voting. All of these activities leave a digital signature unique to us, which if analyzed can predict our next move. Similarly, a large set of data is being created each day by businesses, researchers and the World Wide Web. According to an estimate by the government, there are about 1.2 zettabytes (250 billion DVDs) of electronic data generated each year by everything from underground physics experiments and telescopes to retail transactions and Twitter posts (Mervis 22). This data growth has created a new challenge and opportunity. The challenge is that, we don’t have sufficiently trained people to analyze Big Data. The opportunity is that if you have the right resources who can transform Big Data to a meaningful use, you guarantee the success of your business.
What is Big Data? Big data is a large stream of structured, semi-structured and unstructured data that has unique characteristics. These characteristics are collectively called the 5V’s (Keith 13). The first V stands for volume in reference to the large set of data generated. The second V is for velocity signifying the speed at which new data is generated. The third V is for a variety, which signifies that data can come in any form and from various sources. The fourth V is the veracity is in reference to the uncertainty of the data. The last V is for a value of the data. The data has a perceived value for the organization using it.
Big data analytics is the process of extracting meaningful data out of a Big Data so that predictions can be made, or events can be correl...
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Data Analytics has significantly grown in less than two years, this quick growth has caused the company to evaluate the IT environment and its ability to support the growth and secure the data of the company. The CEO is expecting the company to grow 60% over the next two years; with the success of the company it has been determined that a change to the current IT environment and infrastructure must occur to better support the employees and the customer base.
Big Data is characterized by four key components, volume, velocity, variety, and value. Furthermore, Big Data can come from an array sources such as Facebook, Twitter, call
Predictive and Text Analysis on Big Data – Being able to forecast data and analyse critical information for the company.
Manyika, J. (2011, May 1). Big data: The next frontier for innovation, competition, and productivity. McKinsey & Company. Retrieved May 13, 2014, from http://www.mckinsey.com/insights/business_technology/big_data_the_next_frontier_for_innovation
The characteristics of this unstructured data are high in volume, high velocity, or high variety and complexity. Big data comes from sensors, devices, video/audio, networks, log files, transactional applications, web, and social media - much of it generated in real time and in a very large scale.
At this point, is important to note that Big data itself does not represent more large data set of structured and unstructured data; nowadays bigger than ever and in continuous expansion that can be defined as the "problem of big data" (Cox M. & Ellsworth D., 1997). The ability to organize this "problem" given certain parameters and to be able to build a model or representation of a reality taking care of the existing patterns and relationships to find the true value that lies hidden in data is what can be defined as Data mining (DM) (Kadiyala, S. S., & Srivastava, A., 2011).
Big Data is a term used to refer to extremely large and complex data sets that have grown beyond the ability to manage and analyse them with traditional data processing tools. However, Big Data contains a lot of valuable information which if extracted successfully, it will help a lot for business, scientific research, to predict the upcoming epidemic and even determining traffic conditions in real time. Therefore, these data must be collected, organized, storage, search, sharing in a different way than usual. In this article, invite you and learn about Big Data, methods people use to exploit it and how it helps our life.
The key strategy implementation efforts at Amazon all surround the use of “big data”. Big data is the growth and availability of large volumes of structured/unstructured data. The use of big data has allowed decision making based upon data and analysis instead of past experience and intuition. Big data has directed organizational change in allowing Amazon to expand from an online book store to an internet giant. Revolutionary application of big data has allowed Amazon to create superior service quality while motivating employees by providing real time information to solve customer issues. Big data has strengthened Amazon’s competitive capabilities by pioneering the application of big data and charging a monthly fee to smaller businesses
Davenport, Thomas H., Paul Barth, and Randy Bean. "How Big Data Is Different." MIT Sloan Management Review. N.p., 30 July 2012. Web. 18 Mar. 2014. .
Currently the world has a wealth of data, stored all over the planet (the Internet and Web are prime examples), but it is needed to be understand that data. It has been stated that the amount of data doubles approximately
“The Big data phenomenon is driven by staggering and energizing advances in innovation. Exploiting these advances in the agricultural division could require new hierarchical linkages to be shaped – amongst suppliers and clients and among contenders.
For the past couple of decades the majority of businesses have wanted to construct a data-driven organization or company. Furthermore, companies around the world are considering harnessing data as a basis of competitive advantage over other companies. As a result, business intelligence and data science use are popular in many organizations today. The increase in adoption of these data systems is in response to the heavy rise in communications abilities the world over. Which, in turn ,has increased the need for data products. Indeed, the Data Scientist profession is emerging to be one of the better-paying professions due to the urgent need of their labor. This paper is going to discuss what business intelligence is all about and explain data science that is usually confused to be similar to business intelligence. I will tackle a brief overview of data scientists and their role in organizations.
...ch Reips. ““Big Data”: Big Gaps of Knowledge in the Field of Internet Science.” International Journal of Internet Science 7.1 (2012): n. pag. Web. 16 Mar. 2014.
Prior to the start of the Information Age in the late 20th century, businesses had to collect data from non-automated sources. Businesses then lacked the computing resources necessary to properly analyze the data, and as a result, companies often made business d...
Big data is a concept that has been misunderstood therefore I will be writing this paper with the intentions of thoroughly discussing this technological concept and all its dimensions with regard to what constitutes big data and how the term came about. The rapid innovations in Information Technology have brought about the realisation of big data. The concept of big data is complex and has different connotations but I intend to clarify its functions. Big data refers to the concept of a collection of large and complex amounts of data that are found extremely difficult to notate or even process by most on-hand devices and database technologies.