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Big Data Analytics: A Discussion Of The Importance Of Big Data In Today's World. South Dakota State University/ Data Science Essay

627 words - 3 pages

Big Data Analytics
The term “Big data” does not have a universally accepted or specific definition. It is generally defined as the gathering of much more data or intelligence from a business entity that would have been ignored due to the limitations of customary data management technologies. Zikopoulos et al. (2013) explained that big data is about adopting new business processes and implementing new technologies that enable the storage, processing and analysis of data that was previously ignored. In other words, big data analytics can be understood to be the gathering, systematic processing and analysis of much more data by a business entity.
There are several terms related to the big data concept. These related terms which help in the definition and further understanding of big data are the four Vs; namely, volume, variety, velocity and veracity. The main aim of the big data concept was brought about by the limitations of storage. Tremendous amounts of data are being produced on a daily basis. Zikopoulos et al (2013) states that “the increased use of interactive applications and websites – as well as sensors, meters, and other data-generating machines – means that an increasing volume of data is being produced”. Volume can be said to be the apparent characteristic of big data. It is the reason behind the big data concept. Variety, in relation to big data refers to the various forms that data comes in. Data generally comes in two forms: structured and unstructured or semi-structured. Structured data is what is often known by a business entity of its customers, such as name, sex, date of birth, transaction history, and so on. Unstructured data basically refers to data which computers cannot naturally decipher like comments and images posted to a Facebook feed. The term velocity as related to big data deals with how fast a firm captures and...

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