What is Big Data? Why to unleash its full potential?
Big data is the collection of voluminous amount of structured, semi-structured and unstructured data. Big Data is defined as a collection of many complex data sets, derived from different data sources. The datasets are huge and the traditional data processing programs are not programmed to manage such high volume of data. However, this voluminous quantity of data turns out to be very useful for a company as proper analysis of the data helps to address and even solve business problems.
Main aspects of Big Data
Gigantic amount of data
Big Data is synonymous to high volume of information. Big Data is defined by its enormous number of data sets. Information which forms a part of Big Data can be of unknown value, like the social media feeds or the clicks on a landing page. The volume of data depends from company to company. Some firms might gather terabytes of data while some have hundreds of petabytes generated through social media itself.
Speed
Data is flowing at a high speed thus, it needs to be collected and managed at a great pace as well. Business have to manage floods of data on a real time basis. Velocity is at times considered even more important than the volume of Big Data. As, it is the flow of data which can actually give a competitive edge to a business. Therefore, the speed of the collection of data is important. As, only when the information will flow quickly, the scientists will be able to analyze it to get real time insights.
A wide range of information
The simplest definition of the variety of Big Data is the different types of information that it contains. As, Big Data is expanding regularly, data is flowing even in unstructured patterns. Audio and video data can be termed as unstructured or semi-structured data and it needs special type of preprocessing to get insights from this type of data. However, variety of Big Data is extremely important and the latest Big Data technology at NEX makes it possible to store and analyze a large variety of data.
Unleash the ‘True Value’ of Big Data
Big Data is mined to get useful insights. Big Data experts drill down and find out important information from the huge collection of Big Data, and that information is termed as Big Data insights. These insights turn out to be extremely useful for the businesses as there’s nothing more powerful than information. Big Data insights empower businesses to make better decisions which lead to the growth and development of the company.
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‘Big Data’ Roots back to 1997?
The term ‘Big Data’ was first used in 1997 by scientists at NASA. The term was used to describe visualization problem linked to computer systems with huge data sets. However, later in the year 2013, Oxford English Dictionary officially introduced the term ‘Big Data’ for the very first time. However, now, Big Data has become a phenomenon in different areas as Big Data insights have positive influences in various sectors.
Though, it is interesting to know that the introduction of high volume data roots to the 1960s and '1970s. This was the era, when the market of data was started to build. However, later in 2005, people understood the ‘volume’ of data which is generated by various sources including digital media. Additionally, Hadoop, one of the most popular open-source framework used to manage analyze was introduced.
Big Data is evolving
Big Data analytics started becoming more and more popular with the evolvement of the open-source frameworks. As, the volume of Big Data was soaring, so was the need of advanced programs to store, harness and analyze Big Data. Therefore, open source platforms like Hadoop and many other advanced Big Data platforms were constantly upgraded. And now, with the introduction of IoT, a lot more data related to the products, customer behavior, usage pattern etc. is generated. And, with the help of new-age Machine Learning tools, data analysis and application has become easier. In fact, the advent of cloud computing has further expanded the Big Data capabilities.
Big Data considerations to make ‘it’ work!
Businesses worldwide have realized the importance of Big Data. Thus, they are implementing technology to process useful insights and to effectively use valuable insights for the betterment of their company. To make sure that you get the most out of Big Data consider:
Efficient management of Big Data
Efficient storage and management of data is utmost important. As, only if you are able to store and harness the data properly then only you can consider the data for analysis.
Properly analyze the ‘right’ data
High-end, advanced programs and technologies like grid computing make it convenient to analyze every bit of data. However, it is important to first separate out the data that’s most important and then analyze as per the requirements. This will not only save time but will also help to generate only valuable insights.
Make full use of the insights
A lot of insights can be generated from Big Data. Therefore, it is necessary to understand the importance of insights and how to use them for the betterment of the business. As, only an intelligent strategy will help you make smarter business decisions using insights.
Some other key Big Data considerations:
- Using Big Data structures that support your business goals
- Focus on the security of Big Data
- Integrate Big Data with Business Intelligence tools
- Embrace Internet of Things.
Is Big Data actually voluminous?
Big Data is a huge collection of information. There isn’t any upper or lower limit which defines the threshold of the data to be categorized as ‘Big Data’. As, Big Data is generated in different quantities and by different sources. The volume of Big Data can’t always be defined in terms of petabytes or zettabytes. When collection of data becomes difficult to store, analyze or share via any traditional database management tools, in that case, that huge dataset can be defined as Big Data; that’s the simplest explanation of Big Data.
Processing of Big Data is a step by step process
Just gathering of Big Data is not enough. Big Data needs to be interpreted to get valuable insights, and this can’t be done using traditional methods. Big Data analysis aims to get hidden trends, patterns or information which might not even be seen through naked eye. Also, as Big Data sources and the quantity of data is increasing day by day, hence, companies have to implement new technologies and skills to drill down the data and get useful analytics.
Listed below are the key stages of processing Big Data:
Identifying key sources of Big Data
The first step is to identify how to gather Big Data. The company has to find out the sources from where they would like to gather data.
Acquiring Big Data
After identifying the sources of Big Data, now, it’s the time to use technology in order to acquire Big Data.
Refining Big Data
Once, you have gathered abundance of Big Data, the Big Data experts should focus on refining the data or transforming it. Also, it is that stage where you can identify the main datasets or information which you would like to assess. As, only when you are analyzing the information which is relevant to the business or a particular process, then only it will turn out to be helpful.
Churning insights from Big Data
The last and the most important step is to finally analyze the Big Data to get valuable insights. If the data is analyzed as per a set strategy then the insights generated turn out to be extremely useful for the business.
Architecture
Big Data architecture is the all-encompassing system which is used to drive the data analytics activities. Big Data analysis requires both high-end Big Data architecture and expert architects. The architect analyzes the data and derives useful insights which allow the companies to make right business decisions.
Big Data Solutions at NEX are curated to help you reconsider the traditional storage and architecture models used in business. We make and offer a high-performance integrated solution to help you develop a strong data architecture which inspires insights and builds substantial momentum to drive your business strategies ahead of the competition.
Government and Big Data
Big Data is extensively used by the Governments as well. Big Data has even led to the transformation of the public service provision model. Efficient use of Big Data analytics help to revolutionize the role of governments. Management of data used to be difficult for the government agencies as the amount of data was increasing rapidly and most of the datasets were unstructured. Therefore, to understand the patterns government agencies started applying statistical models to huge amount of data. This is how ‘Big Data’ was introduced in the government sector.
Data lakes, data swamps, and big data storage
A data lake is a termed as the collection of structured, semi-structured and unstructured data. However, data lakes are different from data warehouses. A data lake contains all the data which is generated by both machines as well as humans. Whereas, Data Swamp depicts the failure to document the stored data correctly. And, it leads to the exploitation of Big Data. NEX makes sure that the metadata or processes are not misused in any way so that Data Lake is not converted into a data swamp.
As, most of the traditional companies have faced difficulties in managing the Data existing in silos. Big Data Analytics Solutions offered by NEX are designed to overcome this issue. As, advanced Data Lakes are build and managed with the help of latest technology and expert resources. Also, data experts at NEX are trained to dig deeper in the data with the help of latest technology and techniques to generate informative insights.
On the other hand, Big Data storage is nothing but a storage infrastructure which is developed to store, manage and asses the huge quantity Big Data. Big Data storage makes it easy to store, access and process the Big Data.
Big Data challenges to tackle
Big Data is undoubtedly the next technological revolution. However, there are some challenges which the Big Data experts face that are linked to the integration of Big Data. For example, IT experts are sometimes unprepared for the overwhelming scale and variety of Big Data. Thus, the integration of Big Data in the Big Data platforms becomes a bit of a challenge. Also, security of the data and synchronizing Big Data across different sources are a few of the obstacles. However, Big Data experts at NEX are trained to cross every hurdle that comes their way.
To make sure that your business is driven by Big Data analytics, you will have to overcome some of the key challenges. A few of the top Big Data challenges include security of data, insufficient understanding, different variety of tools, high investment, complexity of managing the quality of data, conversion of Big Data into useful insights etc.
Big Data challenges apart from the ones listed above:
- Security of the data
- Management of variety of data
- Time required to clean and refine the data
- High cost involved
- Scarcity of expert resources
Proper analysis of Big Data needs knowledge of advanced tools
Big Data is becoming more and more popular and you will find various tools that seem to be perfect to get started with Big Data. However, there are a few of the tools which have proven their mettle over the years. Big Data experts prefer to use open source tools, as the support communities of the open source tools are huge.
Listed below are the top Big Data tools:
Apache Hadoop
Any discussion related to Big Data is incomplete without Hadoop as Hadoop is definitely one of the most popular Big Data tool. Hadoop is highly recognized for its advanced features that make the processing of huge-scale data easy. The framework runs both in a cloud as well as on-premises as it has less hardware requirements. MapReduce and libraries are two of the key factors that lead to the success of Hadoop.
Apache Spark
Sometimes considered as the successor of Apache Hadoop, Spark is also one of the most popular Big Data tools. Spark contains a bit more features than Hadoop and it even functions a lot quicker than Hadoop. However, both Spark and Hadoop have their own markets as the users like both the tools for their own capabilities.
MongoDB
An open source NoSQL database, MongoDB is known worldwide for it extremely high-end features. Also, MongoDB is compatible with a vast variety of different programming languages. The fact that MongoDB is designed to store any form of data starting from texts to strings makes it a favorite of the market.
Apart from the tools listed above, Cloudera, Hive, Neo4j etc. are a few of the other top tools to learn to get started with Big Data.
Big Data Analytics is the secret of your business’s growth!
Big data analytics is the process of assessing and analyzing several, different variety of datasets (Big Data) with the motive to reveal unseen insights in the form of patterns, customer preferences, correlations, market trends and huge amount of valuable information. Big Data analytics help the companies in various ways. Big data analytics is done to not just understand the past but also forecast the future with the help of insights. Insights generated from Big Data empower the companies to make better business decisions, create more powerful strategies, improve their products and services etc. The benefits of Big Data analytics also include gaining competitive advantages. Also, Big Data analytics help to drive innovation in the workplace. NEX allows you to leverage the full capability of our Big Data analytics services to derive best benefits for your business.
Listed below are a few top reasons to use Big Data effectively:
Get deeper understanding of the market: Big Data also contains information related to the market. Thus, market analysis is a great way to get valuable insights about the market conditions. This information will not only allow you to promote new products or services better. But, insights generated from market analysis will also allow the company to attract target audience through effective marketing of the campaigns. There are various tools that help you perform market analysis like, Google Analytics (GA).
Gain a competitive edge: Businesses should consider doing effective competitive analysis using the Big Data as well. Comparative analysis is done to not only compare your products and services with your opponents but, it is done to compare your overall brand authority with your opponent. This is done by analyzing the user behavior metrics and assessing the customer engagement. Also, there are other parameters to be considered while performing comparative analysis. All these insights help the companies to design better strategies to gain an edge over the competitor.
Know your target audience well: Dedicated analysis of the right type of datasets help the firms to understand their target audience better. For example, now a days, there is a lot of data available on the digital media platforms. Proper examination of the data related to the target audience will get more insights about them. Thus, the marketers will find it easier to curate more powerful marketing plans and campaigns.
Big Data in much more than a buzzword for today’s world
Business now a days have realized the potential of Big Data. Big data analytics help the companies to predict the future trends and make smarter business decisions. Also, it gives them a competitive edge which is very important in this competitive worlds. However, it is also true that the real value of data lies in the quality of insights which can be generated from it. Therefore, NEX makes sure that your company is able to digest Big Data easily and you are able to get useful insights from the Big Data.
We are a part of the digital generation where most of the businesses are cloud-based. Therefore, data is generated and gathered in very high number. Also, starting from marketing and sales to customer feedback, every type of information is available digitally. Thus, compilation, management and analysis of Big Data is easier than ever and also very important.
Big Data is of utmost important to the today’s world, here’s why:
Business Intelligence capabilities
Business intelligence has definitely turned out to be a very significant weapon to gain an edge over the competitor in the modern market. Big Data analysis helps the BI experts to make better business strategies, which eventually benefit the company. Business Intelligence tools are ideal to put Big Data to effective use.
Constant need of innovation
We’re a part of a very competitive environment. Thus, every company has to offer innovative products, services and communications to the target audience to get more business. This is where Big Data analysis plays a major role as it helps to understand the current market condition, present demand and interest of the target audience and various other parameters better. By analyzing the interactions, trends, and inconsistencies within the industry, Big Data is used to steer the creation of innovative marketing plans and better products.
Leads to the creation of strong software
Big Data also helps to create better software. Every modern company is either developing or using one or the other software. However, to make a powerful software, it is very important to understand the purpose and the audience of the software nicely. With Big Data analytics, companies can easily address the needs of the users as they hold the central point for any form. Through insights, companies can make stronger business plans which are backed by more powerful software.
Who uses Big Data?
Most of the industries make use of actionable and prescriptive insights generated from Big Data. Big data analytics help the firms to take immediate action to improve their business. However, some of the industries use Big Data more than others like Banking and Securities, Healthcare, Media, Entertainment, Retail, Education, Construction etc.
Listed below are a few applications of Big Data in some sectors:
Healthcare Industry
Healthcare is one of those sectors where a lot of data is generated. Thus, proper use of Big Data analytics is bound to help the healthcare industry in many ways. Due to the availability of Big Data analysis, there’s no need to perform unnecessary diagnosis, which eventually lessens the costs of treatment. With access to a variety of data and insights related to patients, doctors are able to provide better care to the care seekers. Also, Big Data analytics makes it easier to forecast any epidemics, thus, the healthcare professionals and agencies are in a better position to prepare for any outbreak which eventually reduces the impact. Also, these days, healthcare experts are using Big Data analytics to detect diseases and symptoms at early stages.
Banking
Banking and finance is surely one of the industries which makes the highest investment in Big Data as the advantages of using Big Data in banking are huge. Big data allows the banking and finance industries to get a complete picture of the business, starting from their market trends, their customer behavior patterns and to even their business functions. Therefore, with the help of Big Data, firms are able to make more useful and insights-based decision to yield better returns. Also, Big Data helps to boost the speed of functions in the firms.
Education
Education industry is bombarded with immense amount of data as well. Therefore, Big Data is transforming the education industry in many ways. Customized learning programs can be curated because of the accessibility of Big Data insights which offer a good understanding of the students and prospective students. In fact, course materials are being reformed and the grading systems are revamped with the help of the student data analytics.
Retail
Big Data analysis plays a vital role in maintaining customer relations, which is the core of any retail business. Analysis of the data related to the customers allows the retail firms to market their products better. Also, customer retention is made simpler with Big Data analysis.
Big Data trends to watch out for
Big data is a very thriving field and it is constantly evolving. Therefore, the world is fascinated to peek into the crystal ball to see the future of Big Data. A few of the top Big Data predictions include Internet of Things going mainstream, domination of data visualization tools, natural data processing and rise of Big Data adoption.
Top Big Data trends
Internet of Things (IoT)
Internet of Things is expected to generate $300bn revenue by 2020. As IoT is all about the connection of various devices, thus a huge quantity of data is generated the connected devices. This huge volume of data makes it easy to track patterns or perform customer analysis.
Artificial Intelligence
Artificial intelligence is one of the most favorite technologies of the world these days as it helps to boost the speed of operations and also reduces errors which eventually leads to the improvement of the quality of operations. AI and Machine learning would lead the Big Data revolution. These technologies will make it easy to conduct predictive analysis.
Predictive Analysis is going to be a trend
Many forms have started using predictive analysis as it helps to get valuable insights for the betterment of the company. Predictive analysis makes it easy to curate improved business strategies which further helps the companies to grow.
Privacy of data will be prioritized
Security of data is one of the main roadblocks that any new technology faces. And, Big Data is all about information, thus security of the data is utmost important. Increasing cybercrimes are increasing the demand of high-end security solutions and programs. Thus, we might see a lot of innovation in the Big Data field as well, related to the security of the data.
Limitations of Big Data Analytics
Big Data analytics is in high demand, but there are some challenges related to it as well. For example, data scientists are some of the most coveted professionals, thus, finding Big Data talent can be an issue. Also, misinterpretation of Big Data, data quality, the outlier effect, cybersecurity, compliance, investment etc. will be some limitation of Big Data. However, Big Data experts at NEX are prepared to tackle all the limitations of Big Data analytics.
Big Data Analytics is the Best Career Move
Big Data is undoubtedly one of the best fields to step in. Big Data is everywhere, thus the need of experts is going to be high. Big Data analytics will be a top priority in many businesses as it helps the businesses to make better decisions and gain a competitive edge over the opponents. Thus, both the career prospects and salaries will be quite decent in the field of Big Data analytics.
Big Data is a game-changer! A career opportunity in the field of Big Data will be interesting as well as quite fruitful. However, if you want to become a Big Data expert, then you would have to spend considerate amount of time to learn the techniques and programs used to collect, digest and analyze Big Data. Also, you should focus on developing relevant strategies to make most of Big Data. At the same time, you should be prepared to tackle the challenges related to Big Data analytics in different industries. Most importantly, it is very important to stay abreast with the latest Big Data tools, trends and techniques.
