What is Big Data?
What is Big Data? You’re finding the answer to these types of question, then I could guess for sure, you are a person related to computing field.
Anyway, lets jump into the definition.
Big Data basically represents a massive volume of data, that may be either unstructured or structured and processing it using traditional software techniques and database may take huge amount of time.
Where and How Its Being Used?
Its the power of information that companies use today to know more about their businesses, and directly translate that knowledge into improved decision making and performance.
A Demonstration example
Consider the case of a physical bookstore. Its track for sure, the information like which books are selling well and which aren’t. Consider the scenario of membership has been applied to bookstore so that they can link the purchases to customers.
After sometime, the owner started thinking of expanding his work to get more exposure. That’s why he made a strong decision to move the platform to online.
Now, what happens here is the e-commerce retailers starts collecting much more information about customer behavior.
The information like what web pages does customers browsed the most, what their behavior on website, how they got influenced by the factor like layout and designing, reviews or things like that.
Having collected a massive amount of users information, an algorithm can be written to predict what book a new customer most likely to read and purchase. Of course, using this technique, overall customer experience gets improved to a great extent.
The more information you have, better you can optimize your product. That’s why, company focuses of collecting and analyzing users activity and information. Its a major driver for success of businesses these days.
4 V’s of Big Data
It has four key characteristics which is also known as 4V’s.
- Volume– Do you know the fact that Facebook stores more than 250 billion images? Its an estimation that by 2020, total data in world reach upto 44 zettabytes.
- Velocity – Velocity is an indication which simply tells how fast data is being generated and collected. For example, almost 350 million photos are being uploaded on Facebook every day.
- Variety – Data collected and generated can be of various forms, from text, image, videos to tweet, posts, web pages, encrypted data, GPS Location, social media and others. Its difficult to analyse different forms of data at once, that’s why companies use separate techniques to extract desired information.
- Veracity – Veracity is the measurement of data precision and accuracy. While analyzing, we must get rid of what called dirty data.
Data can be captured by mobile devices, software logs, cameras, microphones and other gadgets. Analyzing these data may require hundreds or thousands of servers.
Harnessing the power of big data will enable analysts, researchers, and business owners to make better and faster decisions.