What is big data?
What is big data?
Large enterprises are congregating electronic data from assorted sensors, and electronic devices, which are of different formats, with the use of independent or connected applications. This data inflow has outpaced the firm’s efficacy to process, analyze, store, correlate and understand the captured datasets. This new voluminous dataflow which doesn’t fit into the ambit of decorous data processing techniques has been nicknamed as big data. It has carved itself with a home in this dynamic and expanding information ecosystem that many companies struggle to manage today. Mckinsey Global institute ascribes “Big data” to datasets whose size is above the dexterity of archetypal database software tools to capture, store, manage, and analyze.
The concept of big data has chiseled itself to reality with appropriate hardware platforms and analytical tools in order to harvest business value through the new generation information platforms. The term “big data” has materialized itself as a magic wand transforming imperfect, complex, unstructured data into actionable information in the right hands with the right tools. Such transformations have been made possible with advanced computational tools and the new generation thinking. The transformed data divulges the trends and correlations within and across large dormant data sets that would otherwise remain undiscovered. The organizational roles responsible to ensure such data transformations are called as data scientist.
