Big Technology: The Impact And Implications Of Big Data?

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Recommended: A brief explanation of the big data phenomenon

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. The ideology of Big Data first came up in the days before the age …show more content…

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 …show more content…

These obstacles include the wholesomeness of the data, analytical knowledge, an understanding of statistics, and several other philosophical and educational challenges. Gathering the data is usually half the battle in the analytics game. The data collected could include social networking information, sales lists, real estate listings, product lists, and product reviews and can be gathered into structured storage and analyzed. The gathered data proves to be a valuable resource for businesses that look to analytics in order to enhance their market

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