Big Data is the BUZZ word these days but what is BIG Data?
The size of data has exponentially grown during past 10 years. Today we create 2.5 quintillion bytes of data everyday and more than 90% of data is accumulated over last 2 years only. So, undoubtedly, data is BIG, very BIG and its growing.
When we talk about analytics, volumne of Big Data is relative from industry to industry. Infact “Big Data” is a somewhat vague and loosely used term these days, used more for marketing purposes than making technical decisions. What one person calls “big data” another may consider just to be day to day operations on a single system.
In simple words, Big data is a collection of data sets so large and complex that your legacy IT systems can not handle them. When organizations get to the point where their volume, velocity, variety and veracity of data exceed storage or computing capacity, there are some big challenges that need to be addressed. The data size may vary from a few GIGABYTES to ZETTABYTES and at the rate data is growing, the range will soon include YOTTABYTES. As part of the Comprehensive National Cyber-security Initiative, the US National Security Agency (NSA) is building a $2 billion Utah Data Center facility to process (not store) yottabytes of information
But what will you do with so much of data? What value does this voluminous hold for you?
Big data by itself has no value – it’s meaningless. It’s what you do with the data that matters most.
Strictly talking about Sales Big Data, there are companies who have strored and continue to store Terabytes of information in their data centres. But how do they use this huge datasets aligned with their overall company goals and objectives.
Many companies these days offer Business Intelligence and Analytics tools, capable of extracting meaningful information from these TBs of datasets. The major players as per Garterner report 2013 are:
– Information Builders
– Tibco Spotire
– Tableu Software
– Board Internation
– Panorma Software
– Salient Management Company