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BIG DATA

INTRODUCTION:

  • The term Big Data refers to all the data that is being generated across the globe at an unprecedented rate. This data could be either structured or unstructured. Today‚Äôs business enterprises owe a huge part of their success to an economy that is firmly knowledge-oriented. Data drives the modern organizations of the world and hence making sense of this data and unravelling the various patterns and revealing unseen connections within the vast sea of data becomes critical and a hugely rewarding endeavour indeed.
  • There is a need to convert Big Data into Business Intelligence that enterprises can readily deploy. Better data leads to better decision making and an improved way to strategize for organizations regardless of their size, geography, market share, customer segmentation and such other categorizations. Hadoop is the platform of choice for working with extremely large volumes of data. The most successful enterprises of tomorrow will be the ones that can make sense of all that data at extremely high volumes and speeds in order to capture newer markets and customer base.
  • Big Data characteristics:

    Volume:
  • The amount of data that businesses can collect is really enormous and hence the volume of the data becomes a critical factor in Big Data analytics.
  • Velocity:
  • The rate at which new data is being generated all thanks to our dependence on the internet, sensors, machine-to-machine data is also important to parse Big Data in a timely manner.
  • Variety:
  • The data that is generated is completely heterogeneous in the sense that it could be in various formats like video, text, database, numeric, sensor dataand so on and hence understanding the type of Big Data is a key factor to unlocking its value.
  • Veracity:
  • Knowing whether the data that is available is coming from a credible source is of utmost importance before deciphering and implementing Big Data for business needs.
  • Application:

  • Banking and securities
  • Communications, Media and Entertainment
  • Healthcare Providers
  • Education
  • Manufacturing and Natural Resources
  • Insurance
  • Government
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