What is the concept of Big Data?

WHAT IS THE CONCEPT OF
BIG DATA?
Big Data is the process of harnessing massive Data – structured or unstructured via the
means of sensors, actuators, embedded software’s, & network grids.

WHAT IS DATA?
I am sure we all know what is Data? For those who don’t know, let us understand
what is Data? Data can be any information, statistics or facts accumulated by
references or analysis. Data can be in any form be it structured or unstructured.
Unstructured data, also termed as “raw data’ is the data which is in its most basic
form which when processed or analyzed can provide valuable information that can
enhance business value or influence strategic business decisions.

WHAT IS BIG DATA?
Big Data is the process of harnessing massive Data – structured or unstructured via
the means of sensors, actuators, embedded software’s, & network grids. This
harnessed data is in its most basic form that is later processed or analyzed which
according to Merrill Lynch & Co., A wealth management division of ‘The Bank of
America’ comprises of 80-90% of potentially usable business information.
According to IDC big data will grow from $130.01 billion in 2016 to around $210
billion in 2020 at a CAGR of 11.9% specifically banking sector with 13.3% CAGR will
see the fastest investment growth followed by insurance, healthcare &
security/investment services at a CAGR of 12.8% respectively. Data monetization will
be a major source of revenue, as it is estimated that the world will generate around
180 zettabytes (18 trillion gigabytes) of data by 2025.

DAWN OF BIG DATA
Big Data as we know it today has been into existence since ages the process of
collecting data & information has been their even before the existence of
computers or internet. however, the process of storing and analyzing this data has
seen a gradual evolution, but things sped-up during the last century with the
advent of internet and digital storage. The whole concept of Big Data got its
name in late 2000’s, when Doug Laney, Analyst at Gartner, In his paper 3D Data
Management articulated the definition of Big Data, Which comprises of three V’s
viz Volume, Velocity & Variety.

DATA MANAGEMENT SOLUTION AS
PROPOSED BY DOUGH LANEY
Volume
• Tiered storage/hub & spoke
• Selective data retention
• Statistical sampling
• Redundancy elimination
• Offload “cold” data
• Outsourcing
Velocity
• Operational data stores
• Data caches
• Point to point data routing
• Balance data latency with decision cycles
Variety
• Inconsistency resolution
• XML-based “universal” translation
• Application-aware EAI adapters
• Data access middleware and ETLM
• Distributed query management
• Metadata management
Source: META Group

LET’S TAKE A LOOK AT FEW BIG DATA
IMPLEMENTATIONS TODAY
• Have you ever observed that Facebook or any other social media platforms showing you ads or
promotional content similar to what you have looking for online, Social media platforms track your
locations, pictures, friends list, your likes, shares etc. in order to better understand you interests &
preferences and show you similar ads or recognition’s accordingly.
• Investigations or secret agencies nowadays can analyze data from CCTV cameras, phone calls, social
media etc. in order to analyze and track crimes, thefts malicious activities and even terror attacks.
• Advance sports analytics as such in car racing helps the design and development team to collect real
time data of the cars performance and loopholes which helps them to develop and troubleshoots any
technical issues eventually catering for more advanced technology.
• The suggestions you get when listening to a specific genre of songs, movies, videos, books etc. are all
done with the help of datafication or big data.
• Advance self-driving cars such as the Tesla uses and real-time data and analytics to improve its driving by
understanding the traffic patterns with the help of sensors and actuators.
• Even in health sector patience can be diagnosed before they actually get effected with a specific disease
by understanding the recorded symptoms of previous patients.

Though, these are few of the implementations and real-life applications of Big
Data today along with this big data is an integral part of recent technologies
such as IoT, IIoT, AoT etc. The full potential of Big Data is yet to be explored
that can change the complete perception of technology as we have it today.
Are you ready for Big Data?

ABOUT CHRONICLOOP
Chronicloop is an avid initiative to spread knowledge and information
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What is the concept of Big Data?

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