Lets Explain “BIG DATA”

Description: Big Data is the next big thing in computing. This video explains Big Data characteristics, technologies and opportunities.

Source: http://www.explainingcomputers.com
 

Due to the issues raised by its volume, velocity and variety, Big Data requires new technology solutions. Currently leading the field is an open-source project from Apache called Hadoop. This is developing a software library for reliable, scalable, distributed computing systems capable of handling the Big Data deluge, and provides the first viable platform for Big Data analytics. Hadoop is already used by most Big Data pioneers. For example, LinkedIn currently uses Hadoop to generate over 100 billion personalized recommendations every week.

What Hadoop does is to distribute the storage and processing of large data sets across groups or “clusters” of server computers using a simple programming model. The number of servers in a cluster can also be scaled easily as requirements dictate, from maybe 50 machines to perhaps 2000 or more. Whereas traditional large-scale computing solutions rely on expensive server hardware with a high fault tolerance, Hadoop detects and compensates for hardware failures or other system problems at the application level. This allows a high level of service continuity to be delivered from clusters of individual server computers, each of which may be prone to failure. Processing vast quantities of data across large, lower-cost distributed computing infrastructures therefore becomes a viable proposition.     READ REST OF STORY 

Questions for discussion:

1.  What is Big Data and why is it important?

2.  What potential applications do you see for Big Data and in what industries will this add the greatest value?

Advertisements

8 thoughts on “Lets Explain “BIG DATA”

  1. Michelle

    The amount of Big Data that is generated everyday is almost incomprehensible. I do not think people are fully aware of the data they are providing from surfing the web, checking emails, streaming movies, music videos, shopping online, and even grocery shopping. The list can literally go on and on of the amount of data that is being provided about someone. With all the data that is being provided and generated on individuals with them knowing or not knowing is basically called Big Data.
    Big Data is used for many reasons, on of those reasons being for companies and organizations who want to keep track of purchasing’s, likes/dislikes, supply and demand etc. Big Data has the potential to create all that by people/managers learning about individuals habits and making decisions based on their findings. With the vast amounts of volume, velocity and variety of Big Data that is being provided Big Data definitely has the potential to create answers and/or solutions to our future day and age.
    Big Data has the potential to improve the health care systems, by learning more about peoples symptoms and recoveries, and the strategies they took to improve their conditions could definitely be an asset for the health care systems. Big Data could also be used in the Government systems and help improve the decisions being made for society which could be based on diversification. Big Data could also help farmers predict the weather more accurately and make wiser choices on production. I also think Big Data as a whole will help many businesses and organizations make successful decisions relating to the products and services they will provide by learning about peoples data.

    Reply
  2. Ashley S

    Big Data generates value from very large data sets that can’t be analysed using traditional techniques. Big Data is extremely useful in three areas. Big Data can handle volume, whereas old databases couldn’t handle the scale of new information entering the internet and being gathered from other sources. Because of the amount of information flooding IT system, collecting it would be very time-consuming and slow, and Big Data programs are able to collect it in a timely manner. There are many types of info to sort through (photo, audio, video, location data, etc.) and much of it is unstructured. Big Data can sort through this information much more efficiently. Because we live in an age where all info can be recorded easily and uploaded onto the internet, Big Data is crucial for ensuring everything is recorded and collected properly. Big Data can compress extremely large data sets, which is useful for the significantly large amount of data sets this planet contains.
    The greatest potential I see for Big Data at this time is to experiment with it in retail. Retail establishments will be able to benefit greatly from seeing what products are most popular, which areas have different preferences, and the price caps people are willing to spend on certain items. By using this data effectively, retail stores can stock themselves with more products people will actually purchase, and adjust prices in order to maximize profits without turning customers towards buying substitutes. Using Big Data in retail is less intrusive than collecting files on individuals’ healthcare and financial files, as names and personal information do not have to be collected and used if privacy were to be an issue.

    Reply
  3. Tom

    Big Data is a storage device that contains information and transactions. Big Data has three volumes and they are volume, velocity and variety. Volume is predicting the behavour of consumer, planning and modelling climates for agriculture. Veloicty is the rate at which data is flowing into an organization. Lastly variety is the type of data that an organization that has to process but they become increasingly diverse and dense. Big Data is important because it reduces the risk of taking chances. For example, a farmer wants to know if it is seeding month but Big Data shows that this month will be high drought so the farmer waits until next month. Big Data helps predict the future and that will reduce the risk of chances.

    Big Data can use for almost anything but i do see it do well in the stock market. Big Data can store all the transaction and information of a company and predict what the stock prices will be in the future. Stock buyers can now confidently invest into a company and not lose money. Any industries that involves investing will benefit from Big Data. For example, Warren Buffett who is already an successful investment company can now take its company to a whole new level.

    Reply
  4. Jeff

    The amount of information that can be attained right now is almost detrimental. The fact that companies can hold thousands of fields of information on each customer, and gather these mass piles of big data, does not automatically mean it is beneficial. When you think of a movie based on the future where your computerized house talks to you and knows all the things you like, this shows the future of big data, however, we are not there. There seems to be more of a focus on volume and velocity, than there is on actual valuability. Volume at this stage is a problem, and it is not that companies aren’t collecting enough, but that there is actually too much volume, at least for the current systems most company’s function with. For big data to be useful, companies need independent systems, very much like an internal Google or Hadoop to search and obtain the exact information they desire. Until that day when such systems are vastly attainable, and every company has employees who can use it, it seems as if companies should scale back the information they are working with, and focus on the data being collected that they know they can work with right now. I am sure many companies see what a group like Amazon or Netflix does and assume they should be gathering millions of data points, and be able to suggest to each customer what their exact preferences are. But the fact is even the best systems currently, created by the biggest companies, shouldn’t be credited for being more than 65% accurate. The data collection aspect of Big Data is the easy part, and focus needs to be directed towards how to use it much more than constantly gathering it. There is no question that for business the use of all this data collected would be a great competitive advantage, but when that system finally comes, retrofitting your current data may not even be worth it. Work with what you know.

    Reply
  5. Meghan

    1. Big Data provides valued information to companies based on storage, previous transactions, and the processing of amounts of information. What separates Big Data from traditional computing techniques is its ability to process and analyze a significant quantity of data and provide it to the buyer. There are three main aspects to Big Data, which can be both beneficial and consequential for the operation: volume, velocity, and variation. Volume allows Big Data to sort through a vast amount of information and predict consumer’s behaviours, habits and potentially future health issues. Velocity allows for large amounts of streaming data to be provided to consumers and variety simply provides a range of data to be accessed, such as photographs, videos, music, and documents. Big Data helps to improve overall data processing efficiency. Big Data is important as it provides new and efficient ways of helping companies perform at their best by providing them with the trends of consumers and possible predictions for future developments. Also, the majority of businesses are starting to rely on Big Data processes which makes it very important in the industry.

    2. Big Data has the potential to enter many marketplaces and provide valuable data, specifically in predicting trends and allowing companies to customize there schedules or merchandise. This application would provide a reduction in wasted resources and increase the efficiency of businesses. As mentioned in the video clip, Big Data applications would be beneficial to agricultural businesses, and health practices. It would be able to provide crucial scheduling and planting patterns for farmers as well as predictions in family medical histories. In these two cases Big Data would help reduce wasted crops and trial-and-error treatments in the medical field by focusing on those that have previously been successful.

    Reply
  6. Denaye Corbeil

    Big Data processes very large amounts of information and categorizes unstructured data that cannot be achieved by traditional data techniques. The three characteristics of Big Data include volume, velocity and variety
    Computer-generated data is increasingly growing and will continue to grow in the future. It is very important because there are many industries that use and rely on Big Data. For example, the retailer industry uses databases with recorded customer activity; social media uses Big Data to trace digital material. Also, organizations in logistics, financial services, and healthcare sectors are trying to gain value from documenting and analyzing larger amounts of data. With traditional database systems, video data collected from hospitals would be deleted in weeks, but with the increase in Big Data, the information can be kept and stored. Finally scientific research depends on big data in order to further scientific advancements. Although Big Data is very beneficial, it also has its drawbacks. Since all computer-generated data is permanently stored, a main issue is privacy and access to personal information. It is alarming that some online organizations are able to analyze and monitor everything you do on the Internet. I think that many individuals are unaware of the effects and power that big data has over our personal lives and this is only continuing to grow.

    Reply
  7. Ashley E.

    Big Data generates value from information that is stored and processed in very large quantities of digital information that cannot be analyzed from traditional computing techniques. It’s a massive amount of information has been categorized as the three V’s: velocity, variety and volume. The information that is gathered comes from your visits to the store, health clinic, gas station, every time you click a button on your phone, play a game on the computer; big data is everywhere and we are providing it without even realizing it. This definitely came as a surprise to me.

    It’s important because with all of that information it will enable more accurate analysis, which will then lead to more accurate decisions being made. It is how the information is used, obviously there are harmful ways that the information can be used, but if used correctly it could create more successful product developments, save time and potentially cost reductions quicker and more efficient decision making and hopefully filter some of the waste out. It’s a definite plus for the business side of the world.

    As a consumer, it does worry me that all of my purchases, movements around the Internet and even my visits to the doctor’s office are being monitored. It will definitely keep me cautious when asked to provide information from now on. It will be interesting to see how the use of big data evolves and how the information is managed. There is definite potential for some positive uses of the information.

    Reply
  8. Stephanie

    Big data covers a massive amount of information. Billions of terabytes of information are being sent an analyzed each year, everything from what websites you visit to what you purchase in the grocery store is included. Every time you pull out your Costco card and make a purchase you are telling the company not only what you buy but how you pay, what time of the day you shop, and if you stop for gas on the way out. This information is important in many ways. Knowing what products you buy at the same time can change the way a store displays their products. If everyone always buys chips when they purchase pop you can be these items will be located near each other in the grocery store. By tracking the websites you visit a page can determine what sorts of advertising will bring in the most revenue helping them to either improve or eliminate other ads.

    Big data is the way of the future. This information has become so vital and lucrative for companies that everyone is participating in some form. I do agree that this information will help streamline how we use our resources. It can help eliminate waste and maximize productivity, especially online. I think that with all this data collection we will also so a surge of privacy protection firms. Just a few weeks ago there was a news story out about how the government has been looking at peoples Facebook pages, following this story were all the angry comments you would expect from people concerned about their privacy. I think the more information comes out of this process the more people will start to feel like they should be monitoring what they put out into the Big Data system.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s