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A brief explanation of the big data phenomenon
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Dakota State University Big Data Lori Harshbarger Info Systems Planning & Management CIS 427 Cherie Noteboom April 30, 2014 Big Data According to Lisa Arthur, big data is as powerful as a tsunami, but it’s a deluge that can be controlled. In a positive way it provides business insights and value. Big data is data that exceeds the processing capacity of conventional database systems. It is a collection of data from traditional and digital sources inside and outside a company that represents a source of ongoing discovery and analysis. The data is too big, moves to fast, or doesn’t fit the structures of the database architecture. Daily, we create 2.5 quintillion bytes of data. In the last couple years we have created 90% of data we have in the world. This data comes from many places like climate information, social media sites, pictures or videos, purchase transaction records, cell phone GPS signals, and many more places. From the beginning of recorded time through 2003 users created 5 billion gigabytes of data. 2011, the same amount was created every couple days. 2013, we created that same amount every ten minutes. Some users prefer to constrain big data into digital inputs like web behavior and social network interactions. The data doesn’t exclude traditional data that is from product transaction information, financial records and interaction channels. There are two types of data. They are unstructured and multi-structured. Unstructured data comes from information that isn’t organized or easily interpreted by traditional databases or data models. This is usually in text format. SWOT Analysis The SWOT analysis involves four steps. They are strength, weakness, opportunity, and threats. This will assist you to ident... ... middle of paper ... ...now use. Majority of the world’s data is unstructured. Big data technology lets us analyze and bring together data of different types. A common theme in the data is that it is diverse. It doesn’t fall into a relational structure. Different browsers send different data; users withhold information, different forms of software versions, or vendors to communicate with you. There will be many errors and inconsistency if the process involves people. Big data is used to take unstructed data and extract ordered meaning. This is for consumption by users or it is structured input into an application. Veracity refers to the messiness or trustworthiness of the data. There are many forms of big data quality and accuracy that make it very hard to control. An example of this would be hashtags, abbreviations, or typos. Technology now lets us to work with this type of data. Summary
Big Data is being widely utilized by large corporations and the government for many practical uses, tracking crime, finding terrorists, redefining shopping, and changing how we go about everyday life. Price says that big data is leading to large advances in medicine, social sciences, astrophysics, business, and crime fighting. According to IBM, 90% of the worlds Big Data...
Big Data is a concept that has existed for a while, but only gained proper attention a couple of years ago. It can be described as extremely large data sets that have grown so big that becomes almost impossible to manage and analyze them with traditional data processing tools. Big Data can be used by enterprises in by building new applications, improving the effectiveness, lowering the costs of their applications, helping with competitive advantage, and increasing customer loyalty. It can also be used in other industries to enable a better system and better decision-making. Big Data has become a valuable asset to everyone around the world and continues to impact society today.
After understanding the possible outcomes and usages of Big Data Mining and Analytics, the study of the process is necessary to identify the real possibilities behind this techniques and how this can improve a business performance. To do this; we should comprehend the basics about data mining and the process that leads from pure data to insights.
In today’s society, technology has become more advanced than the human’s mind. Companies want to make sure that their information systems stay up-to-date with the rapidly growing technology. It is very important to senior-level executives and board of directions of companies that their systems can produce the right and best information for their company to result in a greater outcome and new organizational capabilities. Big data and data analytics are one of those important factors that contribute to a successful company and their updated software and information systems.
In short, the Big Data challenges for organizations and enterprises in today's digital age. Once mastered big data, they will have greater chances of success in today's competitive environment, the world would benefit more from the extracted information more accurately, more useful lower costs. Still the criticism revolves around Big Data, however, the field is still very new and we'll see in future Big Data will evolve like.
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
Big data refers to data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage and process the data within a tolerable elapsed time.Big Data has vast characteristic and few of them are showed below.
The 21st century has brought with itself an explosion of data and increasing technological ability of our generation to collect, analyse and manipulate enormous amounts of data is what big data is all about. Being a student of a reputed b-school, big data, its analysis and emerging trends across the globe has definitely been a topic of consideration. The basic question is data analysis and big data one and the same? Well, the difference lies in the enormity of the data size. Huge amount of data reveals better trends, unseen correlations and things which could not be comprehended from a smaller data set. Basically apart from answering the usual ‘why’, big data also helps to answer ‘what’
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.
...e point of critical mass. Information is everywhere. A big challenge to business and society is their ability to process these large amounts of information into something relevant to their business and government models. While there are clearly advantages to the use of big data, there are also potential disadvantages that can have huge negative effects on society as a whole, particularly in the way people govern and police each other. It is important that people across all spectrums of society understand and realize the ways in which big data is affecting the world around them. Thus, the potential of big data, like all great forces that come to realization through technology, lies not in the nature of what it can or cannot do, nor in its inherent advantages and disadvantages, but in society’s ability to correctly resource and utilize the power that is big data.
Big data technology deals noteworthy contributions yet also delivers amazing challenges to World Wide Web growth. The big data exploration progresses have resulted in economic forecasts such as advanced decision-making in key development areas like that of health care, employment, economic throughput, crime, security, and natural disaster and reserve management
Big data is a broad term for datasets that are so large or complex that data processing applications are inadequate. The challenges that come with Big Data would be the analysis capture, data curation, search, sharing, storage, transfer, visualization, querying and information privacy. The term can refer to the use of predictive analytics or other advanced methods that are used to extract the value from the data.
Data science is all about uncovering findings from data through different process, tools and techniques involved to identify patterns from raw data. These raw data are basically Big Data in form of structured, semi structured and unstructured data.
Adopting big data can also help the banking industry by saving them from lots of embarrassment resulting from increase in the number of customer which in turn requires banks to improve on their performance. As stated earlier banks are entrusted with lots of information and this information must be safe will be required to be accessed ready and in a timely fashion. The use a normal small database will not be enough to perform this operation and if banks don’t embrace the use of big data they might start to experience failure in there system.