Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
A brief explanation of the big data phenomenon
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: A brief explanation of the big data phenomenon
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
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.
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...
These terms explain the impact and implications of a well thought through Big Data strategy. The first term, volume, refers to the enormous amount of data that encompasses Big Data. Velocity is the increasing rate at which data flows into an organization. Big Data has a variety of structured and unstructured data in things such as text, audio, video, log files, and more. Veracity refers to Big Data being able to be available now, but also still be available from the archival sources as
A SWOT analysis is a measure tool to summarize a company’s internal and external aspects. By measuring the company’s strengths, weaknesses, opportunities and threats and looking for improving solutions by using the strengths and opportunities to improve on the weaknesses and take the necessary actions concerning any threats a company can survive in today’s world market.
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.
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’
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 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.
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
...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 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.