Big data is a set of large complex series of data which are basically unstructured. It is to be noted that these cannot be maintained by hand database tools. A single set of data leads to various correlation which could be figured out více na into prevailing business trends, quality of research, reduction in crime rate etc.
The next question come into mind is what are the key factor pushing Big data. These may be rise in Smartphone proliferation, aerial sensors and social networking. Further question strikes always are How big is Big data? By 2020 it has been predicted that the amount of data would be 50 times as of today. It has been found out that Big data is quite difficult task to work with the help of relational database management systems and desktop statistics because it requires massively parallel software running on tens, hundreds, or even thousands of servers. For some company facing hundred of gigabyte would also be a big hurdle. In a broader perspective big data uses inductive statistics.
Recently Obama administration declared regarding the optimum utilisation of big data research. Due to the growth in Big data there has been significant demand of specialist in companies like SAP, HP, Dell, Microsoft, thereby lead to pumping money time to time. Globally it has been found out Big Data presence is across five field ie; healthcare in the United States, the public sector in Europe, retail in the United States, manufacturing and personal-location data globally. Big data can create value in five ways; transparency in the dissemination of information, creating and storing data in digital format, customized service, accuracy in decision making, innovation in upcoming product and services. With the help of big data organisations able to work upon cost efficiency, Time management, New product development. It has been said that every innovation have to go through some of the key challenges : how effectively and efficiently the storage of data is done, proper time to time analysis, which data point is of relevance for user.
No doubt the incremental technological innovation plays a prominent role in judicious utilisation of Big data; efficient processors, affordability of open source, cloud computing, parallel processing and clustering. The future outlook of Big Data seems to be more promising as Big data would be controlling traffic flow for Smarter Cities. Beside this it can create a niche space in online shopping.
Thus one could interpret that Big Data is a platform to provide solution for crucial business problem and its data processing.
The article has been curated by Ravi Kumar, Student, FIIB
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