what does the term Big Data stands for and its benefits

On 22 Aug 2012 by in Category Article

What is Big Data ? what does this term Big Data stands for and can effect the future of storage and Information technology is now a key question among everybody.

Through this article we would try to get the thoughts of some of the industry leads and would try to analyze the hidden potential of Big Data.

Here’s some of the view points of industry giants related to Big Data and its potential to change the world of information and analysis performed.

While Gartner defines the Big Data as following-:

Big Data as including large volumes processed in streams, in addition to batch.  Integral to Big Data is an extensible services framework that can deploy processing to the data or bring data to the process workflow itself. Gartner also includes more than one asset type of data in their definition, including structured and unstructured content. –  Gartner

 IBM on the other hand is looking to step into the services of analysis and collection of data, their definition of Big data as below:-

Every day, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone. This data comes from everywhere: sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals to name a few. This data is big data – IBM

 

Oracle too is planning to launch its services around capturing and analysis of information received via different modes, be it signal, tweets, or sensors…etc

The term big data draws a lot of attention, but behind the hype there’s a simple story. For decades, companies have been making business decisions based on transactional data stored in relational databases. Beyond that critical data, however, is a potential treasure trove of less structured data: weblogs, social media, email, sensors, and photographs that can be mined for useful information.

Oracle offers the broadest and most integrated portfolio of products to help you acquire and organize these diverse data sources and analyze them alongside your existing data to find new insights and capitalize on hidden relationships –  Oracle .

 

 

Industry is now focusing more on the side of cloud and big data , because both offers value for money.Industry expert suggests business analysis by understanding the pulse of the existing and potential customers.

Customers have always been a core and integral part of business strategy and planning.Now the likes of IBM’s, Oracle ..etc will be taking the initiative in understanding the data flow, which is in high volume and has the potential to make the unstructured information into meaning full data.

This data can help companies in understanding the demand-supply ratio, innovation requirement, short listing of targeted audience and thus helping in having a focused operations, which will lead to increase the production and its value.  

Its been said that Big Data is closely related to cloud computing, internet marketing, research in the field of medical science , NASA expedition and space research and information. These are few such areas and organizations where data produced can go up to 100’s of tera bytes and Petabytes on a daily / monthly basis.

Analysis of all this structured and unstructured data into the meaning full information will be a key factor for being successful in future. Competition is always about staying one step ahead of your competitor and Big data might just come handy in giving that edge to organizations.

Related tags :  Cloud computing  Big Data on cloud platform , Forbes on cloud computing