What is big data?

  Ans:

The data lying in the servers of your company was just data until yesterday – sorted and filed. Suddenly, the slang Big Data got popular and now the data in your company is Big Data. The term covers each and every piece of data your organization has stored till now. It includes data stored in clouds and even the URLs that you bookmarked. Your company might not have digitized all the data. You may not have structured all the data already. But then, all the digital, papers, structured and non-structured data with your company is now Big Data.

Big Data is essentially the data that you analyze for results that you can use for predictions and for other uses. When using the term Big Data, suddenly your company or organization is working with top level Information technology to deduce different types of results using the same data that you stored intentionally or unintentionally over years.

Big Data Concepts:

This is another point where most people don’t agree. Some experts say that the Big Data Concepts are three Vs:

1.      Volume

2.      Velocity

3.      Variety

Some others add few more Vs to the concept:

4.      Visualization

5.      Veracity (Reliability)

6.      Variability and

7.      Value

ü  "Big Data Are high-volume, high-velocity and/or high-variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization”.

ü  Complicated (intelligent) analysis of data may make a small data “appear” to be “big”

ü  Bottom line: Any Data that exceeds our current capability of processing can be regarded as “big”