Big Data is formed by extremely large and complex data sets, that the traditional data processing software is unable to capture, store or analyze. The term “Big Data” is most commonly associated with the 3Vs, first introduced by Doug Laney, the VP and distinguished analyst of Gartner in year 2001. The 3Vs are Volume, Velocity and Variety, used to define properties or dimension of the big data. From then on, more ”V” has been identified including Veracity, Validity, Value, Visibility among the others, while so far the importance of Veracity has been gradually acknowledged.
Along with the arrival of the cloud computing era, Big Data has attracted huge interest globally. As Big Data is formed by massive amount of complex, unstructured and unorganized data, analysts believe that the use of predictive analytics and user behavior analytics on the Big Data will require excessive amount of time and money. Big Data analytics are commonly linked with cloud computing, due to the fact that they both require a massive programming model such as MapReduce to form a parallel, distributed algorithm among tens, hundreds to thousands computing jobs.
Usage of Big Data
The mobile internet, internet of things, social media, digital home network and e-commerce are the new forms of IT development and large amount of Big Data is produced in the process of data transaction. Cloud computing has provided data storage and transport for such massive and huge variety of Big Data. This is the area where it can create huge economic value in the society.
Big Data will prevail as the new engine for the growth of IT industry. To compensate for the development needs in this area, innovations including ranging from new technology, new products, new services to new business models will soon flood the market. In the hardware sector, chips and processors will face a revolutionary stage which accelerate the improvement on their specification. The same applies for the software and services sector, where the development of Big Data will spark a need in advanced analytics software.
The derivation of Big Data will give major organizations an undisputed advantage and competency. In the current fast-paced business environment, instead of being “business driven”, the market will eventually become “data driven”. With the aid or improved Big Data analytics, corporates are able to react to any slight changes in the market instantly, allowing corporates to strategize and position themselves effectively. Consumers will be able to enjoy a distinguished, improved and specifically customized service. In the medical sector, this improves the accuracy of treatment and medication; while in other corporates the derivation of Big Data propagates the growth of economy, as well as maintaining the stability of the society.
Scientific studies and researches would be heavily affected by the Big Data as well. For instance, data from the public survey has always been served as one of the most reliable, fundamental research directions. However, through the derivation of Big Data, it is possible to monitor the behaviors of certain research subjects. Trends observed from the Big Data captured with the assistance of predictive analytics and user behavior analytics, is vitally important for the researchers to conclude their studies and improvise from there.