Definition of Big Data and its concepts, marketing among others. Big Data Analytics is data that is larger than the capacity of commonly used software tools. These tools are used to capture, manage and process data in an acceptable timeframe, i.e. quantities of data that traditional BI tools cannot handle. This data is constantly growing, from a few terabytes to several petabytes.
Some of the technical concepts of Big Data are Big Query and the Hadoop framework.
Definition of Big Data Analytics and its concepts, like marketing and the 3V and 4Vs approach
In a 2001 research report, analysts at META Group (no relation to the META company created by Facebook), now Gartner, define the challenges and opportunities of data growth. They speak of a three-dimensional growth.
Indeed, the volume is increasing (amount of data), the speed of input and output and the variety of data types and sources. The Gartner group, and now much of the industry, continue to use this so-called “3Vs” approach when describing Big Data. In 2012, Courtney Lambert expanded Gartner’s definition of “4Vs” by adding the term “virtual”.
It is therefore clear that Big Data is a concept that encompasses both traditional databases and also business intelligence systems, known as DSS (Decision Support System).
Big Data and government actions
In 2012, for example, the Obama administration announced the Big Data Research and Development Initiative. A project to study how Big Data could be used to solve important problems facing the government.
In addition, this project has 84 different programmes across six departments. The US Federal Government owns six of the ten most powerful supercomputers in the world.
Big Data : its concepts in the private sector
To apply a theoretical definition of the big data , we need to study its concepts in real life businesses. Walmart, for example, processes more than one million customer transactions every hour. Transactions imported into databases that contain over 2.5 petabytes of data.
The equivalent of 167 times the information contained in all the books in the US Library of Congress. Facebook manages 40 billion photos from its user base.
FICO protects 2.1 billion active accounts worldwide. The volume of business data worldwide, across all companies, is estimated to double every 1 to 2 years.
Big Data and the Analytics software industry
The new Big Data concepts have increased the demand for information management specialists. Oracle, IBM, Microsoft, SAP and HP. They have spent more than 15 billion dollars on their software for data management and analysis. This sector alone is worth over 100 billion dollars. It is also growing by almost 10% per year.
This is almost twice the growth rate of the software industry as a whole. Developed economies are making increasing use of data-intensive technologies. Like the Hadoop framework and Big query.
Moreover, there are 4.6 billion mobile phones worldwide. And there are between 1 billion and 2 billion people accessing the Internet.
Finally, between 1990 and 2005, more than 1 billion people in the world entered the middle class. This means that people who have more and more money will become more and more educated. Then they in turn will contribute to the growth of information.
This short article explains how Big Data, its Analytics and a few of its concepts are impacting the data analysis world.