More than half of the global population is already on the internet. Internet of Things (IoT) on the other end, has enabled virtually every electronic devices such as: mobile, cameras, televisions, microphones, etc, to seamlessly connect to the internet.
Artificial intelligence (AI) and social media just fuel the complexity of this data.
And no doubt, the rescuing emergence of computing and analytic tools, confirms the readiness of the world to embrace this ever-growing big thing- BIG DATA.
What is it(?)…
Data are symbols, characters, and quantities which the Computer work with.
Big data is a large collection of data characterized by five(5) unforgettable Vs.
- Volume 1: This is probably why it bears its name (Big Data). The amount of this data is usually very enormous. From a few terabyte to upto an amazing yottabyte, depending on organization, as the case may be.
- Velocity 2: OH Physics☺, that’s by the way. The second “V” that characterizes Big data is velocity. Fast stream rate of data and real-time action on the received data is nature to Big data. Generate-Collect-Analyze.
- Variety 3: This tells the diversity of data. Big data comes in different forms and from different sources.
- Veracity 4: This is about authenticity. How accurate is the data? Is data reliable, trustworthy, verifiable?
- Value 5: Without having value, Big data is just a big waste of resources.
The global community has challenges, which solutions are readily available in Big Data.
- What if we could determine failures and defects beforehand?
- What if we could prevent some natural disasters which keep repeating history?
- What if we could avert health problems, instead of continue to cure, as more with new names surfaces?
- What if we knew customers so well (troubles, wants and needs), so that our products and services could be tailored to address this directly?
- What if we could have an ultra-powerful cyber security?
. . . the happy truth is, Big Data has the answers to all above and pretty much more questions!
We generate (me & you) a whopping daily data size of 2.5 quintillion of Big data. What a number…
Examples of Big Data real-time generation includes:
- FACEBOOK = 500+ terabytes daily.
- TWITTER = 12 terabytes
- GAS TURBINES = Tens of petabytes
- STOCK EXCHANGE (like NYSE) = 1+ terabytes
- Internet = 1.2 trillion daily internet searches e.t.c
Types of Big Data
There are three known types of Big Data.
— Structured Data
They are stored orderly in a fix format.
Sources: Machines & Humans
E.g: A database of personal information and data from sensors.
— Unstructured Data
It is the direct opposite of the former type of data. It has no clear format and form.
Sources: Machines and Human generated.
E.g: Social Media and website contents.
As the name suggests, consists of words, symbols, characters, and quantities of structured and unstructured types.
E.g: NoSQL data and XML files.
Challenges To Utilizing Big Data
Despite that the big dogs; the strong pillars of the modern day internet like- Sofware AG, Oracle Corporation, IBM, Microsoft, SAP, EMC, HP, Dell . . . have spent roughly $17 billion (and counting), on data analytics and software based firms; the process of storing, accessing and processing Big data, still seems like a major problem.
But there is hope.
The nearest future is bright. By then, data capturing, storage, analysis, search, transfer, privacy, and authenticity of Big data, as challenges, would be long gone.
Big Data Achievements So Far!
So far, so good. With Big data, we can celebrate-
. . . Inspiration
Analyzed Big Data have given insights. Insights that inspired inventions like “digital & social media marketing”. Smarter decisions and strategic planning is the case of the business tycoons, who’re already utilizing BD.
. . . Security & Privacy
Big data has helped the fight against the Cyber hacking pros. It is now easy and possible to identity patterns in data that indicate fraud and quick reporting with action.
. . . Happy Customers
Information is power, knowledge is key. With the plethora of data available to gather from web visits, call logs, comments, and social media; the questions of customers are now answered more completely and their needs well met- in real time.
. . . Innovated Developments
Many big and successful companies such as Netflix and Google have made many of their products and services, based on values extracted from: searches, surveys, comments, reviews etc of customers and visitors.
With Big data, everything may not get possible, but lots will surely change for good!