Understanding Big Data
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People are bombarded by large sums of new information on a daily basis. There is literally so much information thrown at us every day that information overload is a normal occurrence. As a result, both individuals and companies are seeking new ways to manage an increasing volume of information.
Data has also become a huge part of every Canadian organization. Now more than ever a company’s data management has taken on a huge role and is requiring more attention, resources, and budget money. Since companies are in the habit of collecting and analyzing large sums of information and data as part of their strategic decision making process, they are also storing large sums of data. This has led to the rise of big data.
What is Big Data?
Big data is a term that has roots in information technology. Also referred to as enterprise big data and in the context of big data analytics, it refers to processes, procedures and tools that are used by companies to manage high volumes of data and information. This includes strategies employed to develop, manage and manipulate sets of information that are outside the scope of standard software tools.
How is big data defined?
While the definition of big data will vary, here are three factors that aid in defining the term:
- Ease of use: Big data is a term that is used when companies begin to have trouble storing, sharing, and analyzing data with database management tools.
- Size of the data set: In general, big data is thought to mean terabytes, petabytes or larger sums of data. However, this number will continue to increase overtime as the need for more data grows.
- Data management: The size of big data will vary from organization to organization; however, if your company has to reconsider your data management options, then you are likely dealing with big data.
How does big data help organizations?
Big data will help Canadian companies in the following ways:
- A way to uncover more efficient methods of productivity
- The ability to uncover more subtle variances in data, performance, processes, and analytics
- A method to create new innovation
- The ability to identify trends and forecast future actions
- More detailed and specific information to be used in the decision making of key stakeholders
Things that have led to the rise of big data
There are a number of factors that have led to the rise of big data:
- The increase volume of data collected by Canadian organizations
- The increased need for more detailed information
- The need to continuously find new differentiating factors
- The rise of social media
- The integration of multimedia into the business arena
- The rise of analytics
How big data creates value for organizations
Big data will play a significant role in companies going forward. Here are a few ways that it will be able to provide value once companies implement it into their operations:
- Transparency: Big data can help to make data more transparent and available within your company. This will make it more accessible and allow people to use it more frequently.
- Policy development: Increased data and analysis will allow companies to create more accurate internal and external policies.
- Development of future strategies: Big data will assist in the development of new strategies, products, and protocols.
- Focus: Big data allows companies to create more specific and detailed products. This allows them to be extremely detailed and become more accurate in meeting their customer’s specific needs.
- Decision making accuracy: The more data and information that is collected and analyses will allow people to make more accurate decisions in all facets of your organization. This will improve overall decision making at all levels of your company.
Big Data Video
Tuesday, January 03, 20122012 tech predictions from IDG editors Technology editors from around the world look at the year ahead and see Apple losing its influence, even greater attention to big data and a turn to solid-state storage
Thursday, December 22, 2011Hadoop challenger works to add developers Parallel processing data platform called HPCC Systems has now been open-sourced. Now there's a fight over its power
Thursday, December 22, 2011IT's winning (and losing) job titles In the intense new battle for IT jobs, those with multiple skills and broad knowledge of technologies will prevail
Thursday, December 22, 2011Predictions 2012: Buzzwords and BYOD The third of three parts in our editorial round table series focuses on the future of the bring-your-own-device phenomenon in 2012. User strike or IT backlash?
Wednesday, December 21, 2011Big Data, analytics get even bigger, hotter in 2012 Analytics will be everywhere -- in-memory, on mobile, on demand as a service -- in 2012, the tea leaves say
Wednesday, December 21, 2011Income up, hardware sales down at Oracle Still, sales of Oracle's specialized hardware-software appliances grew rapidly in the quarter, according to CEO Larry Ellison. How Oracle will challenge SAP's HANA
Friday, December 16, 2011When HANA meets Hadoop SAP's in-memory database is becoming core to its long-term strategy, and an announcent at its Influencer Summit earlier this week may explain how it will gain broader support
Thursday, December 15, 201110 hot IT jobs for managers and executives in 2012 IT infrastructure positions are beginning to retire, and IT leaders are hard-pressed to find enough Gen Xers with the right mix of skills to replace them. But it's the leadership roles that are really changing
Wednesday, December 14, 2011EMC's Greenplum goes big in data analytics Unified platform will combine the Greenplum database with several other products to make it easier for organizations to comb through data
Wednesday, December 14, 2011Azure hosts Hadoop, other open-source apps It's only available for trial now, but Microsoft's cloud service will let users give open-source data analysis platform a drive
Friday, December 09, 2011Big data has potential, but requires care Large data sets are both a challenge to manage and a tool for competitive advantage, a Silicon Valley conference has been told
Wednesday, December 07, 2011Banks must ask 'right questions' on unstructured data The traditional slice, dice and normalize approach doesn't provide answers to the more human questions, a panel of FI technology vendors says
Monday, December 05, 2011Data destruction, Big Data and a camera projector ITWC THIS WEEK VIDEO PLAYLIST Crushing hard drives with Securit, where Big Data meets grid management, and a camera that's also a projector for your smart phone
Friday, December 02, 2011Control slipping away for IT, Gartner says PREDICTIONS 2012 The research firm sees more cloud, more consumerization, and more cybercrime for the coming years. See Prediction No. 8 to find out why American IT will see more "Made in Canada" stickers
Wednesday, November 30, 2011HP tackles unstructured data DISCOVER 2011 Hewlett-Packard plans to bring its infrastructure and services resources to bear on analysis of unstructured data
Friday, November 25, 2011CRTC dumps UBB, SAP talks Big Data ITWC THIS WEEK VIDEO PLAYLIST The CRTC announces a capacity-based billing regimen for independent ISPs to buy bandwidth for the telcos, SAP's Mark Aboud on in-memory analytics and Zynga's compression gives gamers more options
Wednesday, November 23, 2011Data, data, everywhere The challenge of unstructured data and what to do about it
Tuesday, November 22, 2011Big Data analysis the stuff of heroes The hero of the next age will be the person who can manage Big Data, says futurist Thornton May. Plus, how your dark data can inform your analysis of social media
Monday, November 21, 2011IBM uses social media to predict market trends IBM has used its own social media analysis to predict women’s heel heights, but thinks the same logic could be applied to other industries
Thursday, November 10, 20115 hot tech projects to boost your IT career Take the reins of any of these five forward-looking initiatives and become an IT hero in the eyes of upper management
Wednesday, November 09, 2011Hadoop ready for corporate IT, execs say HADOOP WORLD CONFERENCE Reps from JP Morgan Chase and eBay say the open source data storage and analysis framework is ready for primetime enterprise play
Wednesday, November 09, 2011Accel buys into Big Data hype with $100M venture fund HADOOP WORLD CONFERENCE The fund will be advised by some of the biggest names in Big Data
Thursday, November 03, 2011Gartner's Symposium/ITxpo 2011: A CIO's takeaways Appleby College's senior technology executive attends one of the biggest conferences for chief information officers, exploring reactions from the 'middlers' to see which ideas have merit. An anthropological approach to IT
Friday, October 28, 2011Getting a jump on Big Data PREMIER BUSINESS LEADERSHIP SERIES In-memory analytics on a database appliance will bring analysis of huge bodies of data closer to real time, according to SAS
Thursday, October 27, 2011Exploiting social media: The next step in business analytics SAS PREMIER LEADERSHIP SERIES The holy grail of enterprise social media programs is tying them to ROI