IDC estimates the volume of digital data will grow 40% to 50% per year. By
2020, IDC predicts the number will have reached 40,000 EB, or 40
Zettabytes (ZB). The world’s information is doubling every two years. By
2020 the world will generate 50 times the amount of information and 75
times the number of information containers.
What is Big Data?
The most accepted definition of Big Data is
in terms of 3 characteristics, variety,
velocity andVolume (3V’s):
Variety : depicts its heterogeneous nature
Velocity : represent the pace to which
data is acquired
Volume: illustrates the size of data.
More recently another v has been proposed its called“veracity”
Difference between Big Data and
Unlike traditional datasets which have corresponding predefined characteristics (Such as
Char, int,Varchar), Big Data sets are in form of:
Structured :egTransaction details, bank account history,
Unstructured: egTweets, Facebook Messages,
These features in addition to its 3V characteristics makes it impossible to analyze big
data on traditional relational database
How do we Analyse Big Data?
Typically the process of managing data include processing, Storage andAnalytics.
Before now a typical RDMS could serve all these purposes at once, but due too the
nature of Big data this model has changed as follows:
Application of Big Data
Predictive Analytics: Using data to predict trends and patterns.
This is applied in supply chin to forecast furture demands on a product
Descriptive Analytics: Use of historical data to explain a business.This is
associated with Business intelligence, it can be applied in order to gain
understanding of consumer behavior
Prescriptive Analytics: using data to suggest optimal solution.Applied in
inventory systems to predict inventory level
Crime prediction and prevention
Predict economic trends
Health monitoring and intervention
Travel & Transportation
Customer analytics and loyalty marketing
Capacity & pricing optimization
Predictive maintenance optimization
Location Based Services
Optimized promotions effectiveness
Micro-market campaign management
Real-time demand forecast
Energy and Utilities
Distribution load forecasting and scheduling
Create targeted customer offerings
Enable customer energy management
Smart meter analytics
Big data is a Phenomena,is a Methodology.
Big data might be a Challenge,but also is a Chance
I recommend that more there is need for more urgent
research on stable hard ware systems and computational
algorithms to manage and produce insights at optimum.As
data growth is a going concern