What is Big Data?
Come across the term before?
Well, Big Data is only (If not) the biggest news ever since the industrial revolution came into motion to hit business markets all around the world. No big deal.
So, What is it?
Simply put, devices like mobile phones, tablets, work computers, all collect data every time they’re switched on.
Hence, this data when accumulated, surmounts into an enormous pile of information, giving the term ‘Big Data’.
Each movement, is logged down and stored as Data, collected and sent to a server where it’s kept for later use.
Companies today can collect large amounts of data, and use it to analyze their business models more deeply than before.
This data however, is ‘unstructured’. It is not record down with any parameters/conditions associated with it.
Unstructured Data sources consists of emails, documents, photos and videos, which when stored unfiltered adds up together with an inefficient use of data storage space.
Furthermore, sanitizing data with duplicity and blank entries, makes it difficult to entrust data for analysis as primary figures.
This is unstructured data by which a company collects. And, it will continue to remain this way until someone in management decides to use it.
The amount of data collected is so extremely huge (Well above Petabytes), hence the term ‘Big Data’ portraying its shear size.
Solutions like SaaS (Software-as-a-Service), help break down large data sets that are complex for data storage using systems like Hadoop, where extraction is made simple and fast using specific call function.
Many industries are already making the shift to Digital Transformation.
These are the main few primary sectors adopting those changes,
The amount of data streaming in from multiple gateways, adds astronomical data numbers on a daily, per second basis.
To make sure things or go smoothly and are in balance, or getting out of hand, several parameters are in place to help streamline and oversee this data.
Issues Surrounding Big Data
One avenue of major concern is Security (or hashtag #InfoSec)
Security is a big issue as hackers seek out to exploit people’s information for various purposes.
Many of these organizations experience hacking attempts on them regularly, trying to pry personal information from their systems, or infiltrate them to plant viruses.
Banks, their most favored prime targets, remains by at large most vulnerable to these attacks on a daily consistent basis – therefore having to fend off hackers by constantly upgrading their software, to protect both the public and private sector’s sensitive data within their custody.
Newer security implementations are being commissioned out daily by many corporations.
However, this still isn’t quite as effective, as hacking evolves much faster than policies, even before they are set in place.
Governments and Healthcare Constituencies are not exempted from these attacks as well, as seen in recent days.
Organisations like these who manage sensitive information concerning people’s lives, can prove to be disastrous should its servers get infiltrated.
Data Sources – Where It Originates
Devices connected via the web, stream in large volumes of data every second.
Observing streaming data helps us to analyze how data flows in, and allows us to draw up measures as to keep or dispose of data needed for any purpose.
Everyday people need to chat and communicate with the latest news and trends, staying updated themselves.
The data collected for customer service actions use a particular platform called CRM, most popular would be Salesforce, or HubSpot (Which is Free forever!).
Businesses constantly research and update marketing campaigns to take full advantage of their media advertising efforts, which also translate to sales figures reflecting their ROI conversion performance.
This category is quite unique as it evolves around the customer’s experience, that poses an undefined measurement on event campaign’s effectiveness, which has to be delicately intuitive.
Governments and NGOs also put out open data resources for public use.
This helps stimulate the economy by allowing cohesiveness between corporations in both the private and government sector.
With more data being shared, companies are instantly thrust forward ahead in their respective fields and their competitors with this research, which in turn adds to a ton of data that comes alongside it.
Managing the Data
Currently data storage is an issue, as just last year alone produced 90% of all Big Data.
Though there are improvements with low-cost options for businesses, it is still an uphill task for data storage providers to construct more storage facilities to manage future data population.
Analyzing data also requires time. An option to reduce the time it takes to store (or read this in future), is to determine relevancy before delivering it onto the next phase.
To summarize the important facts,
- What is Big Data
- Industry Applications
- Issues around Big Data
- Data Sources
- Managing the Data
Hope this has been helpful.
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