Today’s technical world runs on the one thing called data and almost all of us are familiar with this term. But Big Data is a new concept for us.
What Is Big Data:
As the term indicates, Big Data is nothing but a collection of data that is huge in size and is continuously growing. This data is so large and complex that it cannot be managed or stored by using traditional data management tools. Volume, Variety, Velocity, and Variability are few Characteristics of Big Data.
The following examples of data generation by famous institutions and companies will help you to understand how huge this data can be:
The New York Stock Exchange: Produces one terabyte of new trade data per day.
Facebook: 500+terabytes of new data in the database every day most of which come from photographs, messages, and video uploads.
Three Types Of Big Data:
Big Data can be classified into three different categories:
Structured Big Data: Any data that can be stored, accessed and processed in the form of fixed-format is termed as 'structured' data. With time and tremendous developments in computer science, many technologies came up which worked on the idea of structured Big Data. It was possible to handle and store nowadays this data is growing exponentially to multiple zettabytes and we are seeing issues in handling it.
Unstructured Big Data: Any data which is too huge in size to be measured is known as unstructured data. Other than being huge in size, unstructured data is hard to process and we face difficulty in deriving value out of it. Now day organizations have limitless data in the form of files, images, text files, videos of data available with them but they don't know how to derive value out of it because the data is unstructured and disorganized.
Semi-structured: Semi-structured data is the mix of both forms of data which is not defined. An example of semi-structured data is data represented in an XML file.
Big Data: A revolution that will transform how we live, work, and think
- Ability to process Big Data offers multiple benefits, such as-
- Businesses can utilize outside intelligence that can help them a lot in taking decisions
- Access to crucial information through social data from search engines and sites like Facebook and Twitter is helping organizations to fine-tune their business strategies.
- Improved customer service
- Traditional customer feedback systems have been rightly replaced by new systems designed with Big Data technologies.
- Early identification of risk to the product/services and improved operational efficiency
Big Data technologies have helped in creating a landing zone before handling it further and helps an organization in getting rid of infrequently used data.
Big Data handling has become a new promising business nowadays and companies like Cloud Space and Sigma Data Systems are making it big in this field.