What is Big Data?

Did you know there were 5 billion mobile phone users in 2010 that exchange messages and surf the internet? Also, that there are 30 billion pieces of information shared on facebook each month? Finally, how about 15 out of the 17 business sectors in the United States have more data per company than the entire US library of Congress? In other words, 88% of businesses gather more data than the US library of Congress. Potentially limitless data used to capture, store, manage, and analyze in all technologies are ever more prevalent in every aspect of life, which can be used to skyrocket innovation, minimize risks, and improve decision making.

Multiple experts in the analytical and business intelligence industry come across the term “Big Data” at least several times a day. Yet, how do experts define Big Data? Big data refers to datasets that are too vast and multifaceted for typical database tools to aggregate, manage, store, and analyze. Big data is so immense causing the boundless growth potential as technology evolves. Society is quickly shifting to a technological centered culture, therefore, the ability to harness, store, and analyze all types data is an evolving field. It is a necessity to store data in a location where the records are easily accessible at anytime, especially by remote users. Examples include, but not limited to: internet, text, documents, mobile phone text messages exchanged, medical records, financial records, scientific research, retail data, and manufacturer data.

Data that is generated by technologies is then stored, aggregated, and analyzed by Big Data applications to be used by different industries

 

Businesses that understand the importance of aggregating massive amounts of data quickly and efficiently will begin converting their enterprise data architecture into systems that can handle big data. This will ultimately make their business more successful. For example, “big data” business intelligence platforms can position a business to explore unchartered opportunities quickly, by advancing marketing strategies through sorting and analyzing the sea of data in real time and perhaps propose a marketing model to a new niche market.