What Is Big Data and How Can it Benefit You?
What is Big Data? If you have heard the term and are not completely familiar with it, then it is time to find out more. If you’re an IT professional, then you know what it is. If not, this brief introduction may help shed some light on the subject. The term ‘big data’ is frequently used in the context of large-scale databases, but the idea of what it really means is much broader and more interesting.
Big data is a phrase that generally refers to systems that treat large, unstructured data sets as if they were of a smaller size or volume to be handled by usual data processing application programs. In other words, it denotes a system that may potentially encompass petabytes, terabytes, or even petabytes of data. The term has also been used recently to refer to the capacity of certain networks to handle large amounts of unprocessed data. It has especially caught the attention of the IT community because of its potential for growth.
What is Big Data? It’s a very complicated concept, because while the term itself may sound complicated, it actually refers to many different concepts that can be grouped under the larger umbrella of data management. There are four main elements that make up the big data concept and they are:
First, there is the need for an efficient way of managing, processing, and analyzing such huge amounts of data. A typical computer system that is being used to process data mining is referred to as a data warehouse. This describes both the capabilities of the actual machine and the tools that programmers and analysts use to analyze it. As networks continue to grow exponentially in both their capacity and their size, this function is becoming more important.
Second, big data is characterized by its ability to grow without any major changes to a business’ infrastructure. Some of the characteristics of a growing exponentially include: there is no major overhaul needed on the part of the business owner, meaning that the company can maintain and grow at a steady pace while using existing technology and resources. There is also no significant software development needed on the part of the programmer or the analyst. The data mined will be easy to integrate into the company’s existing technologies without requiring any additional programming, as the basic business processes and structured data are already in place.
Third, big data has created many opportunities for social media and internet marketing. In the last decade, there have been tremendous advances in the areas of search engine optimization (SEO), content marketing, and advertising through social media. Because of this, it has become possible to create personalized channels that attract new customers through the increased reach of the internet. These personalized channels can be used to generate vast amounts of profit through the sales of products, services, and information. In addition, with the help of the internet, there is now the ability to create lucrative revenue streams from a social media campaign.
How does all of this relate to what is gather? According to Greg Marshall, president of Gartner, “When we talk about what is big data, the term itself generates a vision of something massive that is not understood in the traditional business sense, but one that is very much necessary in today’s world.” As more companies continue to tap into and harness the power of velocity, they will realize that they must adapt to meet the challenges of running a more efficient operation. The Gartner definition states that speed is a key driver of change, and companies must be able to adopt this philosophy in order to succeed in the changing marketplace.
What is big data? It certainly provides immense possibilities for smart companies, because it allows companies to harness data sets faster than they would be able to on their own. The question then becomes, how do you learn to harness big data in a way that provides you with opportunities to make more money in less time while meeting the challenges of competition? It is quite possible with the help of predictive analysis tools. As more companies make the transition to utilizing social media platforms using analytics tools, the question of what is big data becomes a lot more clear.