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?
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71 thoughts on “BIG DATA

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  3. Megan Thurlow

    Big data in simple terms is extremely large amounts of data that can be used for a variety of things such as finding trends and patterns that are generally related to human interaction. Big data is important because it uses accurate information gathered on individuals and uses this information for a specific purpose. For example, a merchandising company many use big data to track consumer-spending patterns, determine which products are popular and which aren’t. This data can then be used to improve their own product line. Advertising companies may use big data relating to what kind of things people search on the Internet and implement that into advertising strategies. Big data takes away all restrictions in regards to the amount of information that can be obtained. The companies that I believe will benefit most in the use of big data are medical organizations, as internet searches can be used to predict the trends of future epidemics, which can in turn be used to provide faster treatment. Big data is also especially useful to the law enforcement, as it can be used to predict crime rates.

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  4. Cody Veltman

    Big Data is the massive collection of relevant data that is stored in databases and used for decision making. What makes data “big data” is the sheer amount of data being collected and the immense speed at which it is collected. Big data is important as it can help a company make the best decisions possible and having the ability to store, process, and use all this big data is something that could put a company ahead of another company in today’s business world. Access to this data will provide very accurate metrics that will prove very useful to the decision makers of the business. Big data could tell the manager of an online storefront a plethora of things: how many customers added or removed certain products to their cart, how long certain items were in a customer’s cart, what items were bought together, what locations are certain products popular, at what time of day are certain products bought most, what sex is a certain product most popular with, what age group is a certain product most popular with, etc. The possibilities of big data are endless; info can be categorized as such specific things as mentioned in the list above and then put together to provide the marketing team with an analysis of exactly who, what, when, where, why, and how every product should be marketed to the product. In certain business structures, I feel like the only tool more powerful than big data could be is the person or team that collects the big data and interprets it.

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  5. Jordan Slade

    Big data is a large collection of data and its various components that are used and always added to and the volume and speed needed to collect and store this data is quite high. and give users and tech people quick access to the big data available and its potential is very high in the future as big data is always having new stores of information added to it and many companies taking advantage of big data warehouses which can give them a competitive advantage out in the marketplace with all of their key information being available at their big data warehouse

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  6. Todd Bullock

    Big data collects and examines large amounts of data to find hidden patterns by using the three V’s: volume, velocity, and variety. Big Data uses “volume” which allows for companies to generate mass amounts of data that would have taken a long time compound otherwise. Big data does this at a high speed or “velocity”. From this they can decipher a “variety” of different trends in the data that lead them to more efficient ways of advertising, producing, marketing, etc.
    I think the biggest potential application for big data is now in the form of smartphones. By monitoring every click on your phone companies would be able to send more personalized advertisement directly to you. For example, if I have searched a certain product on multiple different websites it would be beneficial to have this information immediately so that a company can send a direct link of advertisement to me as a customer automatically. If companies were able to automate electronic advertising based on every keystroke they would be able to directly reach the consumer without them even having to leave their home.

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  7. Stephen Primeau

    Big Data seems to be a large database capable of storing large quantities of data that aren’t able to be analyzed using traditional computing techniques and aren’t capable of storing this amount of data. It is important because it could potentially be the next big thing is the information storage system competition. It is already being compared to Web 2.0 and cloud storage! This database has the potential in improve analytical insight, as well as allowing the possible creating of products and/or services that were previously thought to have been an impossibility.
    In my opinion, I believe that Big Data could be associated with the marketing sector of businesses. Having access to a massive database such as Big Data would offer these businesses the ability to gain a deeper insight into their customers – what they browse on the internet, what products they tend to purchase online, and other information that is most likely secured. It would also be able to give them insight into their partners, giving them answers to questions they potentially didn’t even think would need to be asked. This has already been demonstrated through pioneers of Big Data such as Facebook and Google. It has permitted the delivery of highly personalised searches, advertising, as well as product recommendations.

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  8. Blake Furgeson

    1. Big Data creates value by being able to take large quantities of data that cannot be analyzed with traditional computing techniques and process and store this large amount of data. It is important because there an increasing amount of data being generated and if it is found to be of value, Big Data will become more prevalent in how data is used.
    The potential applications I see for Big Data are cloud storage. It would be easier for business to not have to download a large amount of data onto a hard drive, but rather can access it via a cloud server. There are currently numerous providers of this service, which include Amazon and Google, as the amount of data increases the more demand there will be for such services and business should grow substantially. Another potential application of Big Data would be in the Healthcare sector, by reducing current costs in the sector and potentially increasing the ability to find data about each patient with more ease. Cloud computing has the most potential to expand and allow for smaller companies to use these services provided to not have to invest in data storage on site but rather source it outside of the company at a lower cost.

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  9. Tomara Noga

    Big Data can be explained as extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions. By using these large amounts we can figure out almost anything we want to know about how humans use stuff in their everyday life. We can track things like fitness, what a consumer may be buying at the grocery store or mall, how many times a week they eat out, or what music they prefer. By using this data, businesses can in turn find out what their consumers really want, and create potential within the target market that may have never been thought of. They can also eliminate things that people are no longer finding useful as time has progressed. This technology is important because we are capable of learning things we have never learned before. Big data is often characterized as “the three V’s”: Volume, Velocity and Variety. Volume can be the greatest challenge, because as the name explains, there is so much of it, meaning a lot can be quite useless, and they need to dig through to find what is useful. This leads to velocity, which means the organization may not be able to keep up to the amount of data coming, and that also ties to variety because there are so many different types coming in. I think this will come very useful in the agricultural industry, because farmers will be able to farm the land much more efficiently if they can figure out what works best with the least amount of input in order to attain a larger output. I think it will also be important in the retail business because stores will be able to track exactly what their customer is looking for and see patterns in their shopping.

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  10. jessicapaulson

    Big data collects and examines large amounts of data to uncover hidden patterns. This data is large and complex compared traditional ways of generating data. Big data uses a series of analytical tools and applications to generate the data in large amounts and at fast speeds. As seen in the video above big data is described with the three V’s: volume, velocity, and variety. Big Data uses “volume” which allows for companies to generate mass amounts of data that would have taken very long otherwise. Big data does this at a high speed or “velocity”. Where they can then generate a “Variety” of data types of information that is being processed and collected. These three V’s would be very hard to generate without the help from big data analytics. Big data is important for organizations because it is a key factor in helping to generate business intelligence at a faster more efficient rate. Being able to access this information that otherwise could have been overlooked is key in giving an organization a competitive advantage. The information gathered with big data gives is not only more efficient, but also exceeds competitors by the quality and usefulness of the data. Big Data applications are useful in all industries that require feedback about their consumers to predict trends. For example, the tourism industry can track consumer’s wants and needs, any recommendations, and help with the firm’s decision making. This allows for organizations to have a greater insight in the past, current and future markets and correct potential problems before they arise.

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  11. Brooke Torgerson

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

    Big data is data that is so large it is typically collected by super computers and is too large to be typically processed by regular computers and programs. It is typically collected to allow business owners, managers and analysts to make decisions based on predicted data. This allows smarter and more efficient decision making. Big data is important because it can give you an additional advantage over your competitors. Big data is used in numerous ways. A lot of companies are now using technology and artificial intelligence to gather the big data from their consumers. Effectively allowing companies to increase revenues by addressing efficiency issues and providing new customer demands.

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

    I see an endless opportunity and potential for big data to take over many of the business industries today. The technology field is where I see big data being able to take large strides. In order for technology companies to be increasing their revenues by producing updates and new products. For example, in terms of apple, Apple can use big data to figure out what apps and features are used the most on their devices. They can also find out what the customers would like to see in updates and new products. This gives them a competitive edge allowing them to stay ahead of the competition making them a leader in computer and phone technology. But perhaps the industry that Big Data would add the greatest value is the health industry. It has recently become one of the faster growing industries in the world as more people are starting to focus on their health.

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  12. Michael Forster

    Big Data is an incredibly large amount of data gathered for a business to be used and analysed for a specific purpose. It can be gathered to predict consumer or market trends, focus the direction of the business in a specific direction, and make logistical decisions in a wide variety of ways. For all of these reasons, big data is becoming incredibly important in the business world. It is fundamentally affecting how decisions are made due to the variety of uses that a vast amount of data can be applied to. Any trend can be tracked by single locations all the way to worldwide. Millions of consumers can be instantly analysed.
    Any industry that has a very high everyday consumer focus benefits the most from big data. Being able to access consumer trends and taking into account an unthinkable amount of purchase factors is now possible due to consumer profiling and tracking location, weather, buying habits, time of day, preferences, and countless other factors that all influence purchasing. This increases personal marketing tactics down from demographics all the way to the single consumer. It will also allow businesses to increase product quality based on consumer wants. While all of this may have been possible before in a reduced capacity, big data has expanded the diversity and complexity of marketing strategies in consumer business more than ever before.

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  13. Tyson Reimer

    Big data examines large amounts of data and tries to uncover patterns and other types of insights. This is important as it can be used to uncover new opportunities. With this, smarter business moves are made, operations become more efficient and the most important thing is that it can keep customers happy. Big data tech like Hadoop can also bring in massive cost reduction. Hadoop specializes in big data technology and this can be especially important if a company doesn’t know how to handle big data. This can help with the efficiency of the business as well. Hadoop is also extremely fast at analyzing data. This can help companies with analyzing information immediately and help them make decisions as quick as possible. Customer needs are also met by using big data analytics, as trends can be identified quickly.

    Big data should ultimately be used by all industries. But the biggest industries that should use big data in my opinion is the medical industry and the agricultural industry. By analyzing big data in the medical industry, patients can receive treatment quicker. In the agricultural industry, big data can be used to find out what crops are going to sell for the most and plan accordingly. Like I said before, though, every industry should take advantage of using big data to make business more efficient and find certain trends.

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  14. Queenie

    Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It’s what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves. The importance of big data doesn’t revolve around how much data you have, but what you do with it. When you combine big data with high-powered analytics, you can accomplish business-related tasks such as (a) determining root causes of failures, issues and defects in near-real time, (b) generating coupons at the point of sale based on the customer’s buying habits, (c) recalculating entire risk portfolios in minutes, and (d)detecting fraudulent behavior before it affects your organization.Many technologies and applications have contributed to the growth and popularity of big data. Mobile and wireless technology, the popularity of social networks, and the enhanced power and sophistication of smartphones and handheld devices are the key factors. Significant improvements in storage technology and substantial cost reduction and improved capabilities affordability of analytics tools have made big data analytics accessible to nearly all types of organizations. The most commonly used platform for big data analytics is the open-source Apache Hadoop, which uses the Hadoop Distributed File System to manage storage.

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  15. Emily Pritchard

    Big data is a large collection of information collected from various points on the internet. This form of data is unable to computed by typical computer due to the sheer volume of the data. This data is an incredibly valuable asset to corporations as it can be utilized for decision making, marketing, and tracking consumer trends. Big data at it’s core consists of volume, velocity, and variety. This refers to the volume of data being brought into the data bank and the copious amount of possibilities to be utilized with said data. It also refers to the velocity at which the data can be processed and used, and the variety of the diverse inputted data. With new technical advancements constantly surfacing, soon it will be possible for big data to be used in many industries. Rather than being exclusively available to large scale corporations, the benefits of big data ill be accessible to grocery stores, retail, bakeries, doctor offices, schools… the list is endless. However, despite all of the benefits of big data there is still a darker side to be considered. With mass data collection issues of privacy, and privacy invasion must be considered. Many people may not be comfortable with he idea of their information being stock piled into a data base. Sensitive information such as medical records, and personal preferences can be easily accessed and stored, but more concerning is the idea of data being sold or hacked into. At that point the data s no longer in the hands of those it was initially entrusted to.

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  16. Chiaki Kitsuki

    Big data is the data which has enormous and complicated amount of information to support firms’ operation. It contains the personal information like customers and the organization’s record etc. As the world has become advanced, the use of big data has been increasing and it itself is very important. Because it is utilized in many fields and often plays a role as a decision making. For example, in the marketing field, the big data basically contains customers’ behaviors, the flow of products, and the trends. Marketing companies use these data to analyze the current situation and create products which drags peoples’ attention well. without the big data, the marketing will not function properly, for big data is indispensable thing for the industry to rely on the result of big data. Not only marketing but also other industry such as healthcare and architecture can’t survive without big data.

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  17. Maximilian Gundl

    1. What is big data and why is it important?
    Big Data relies to huge amount of various files, messages and pictures. It is the outcome of the expansion of the internet. In the past, the internet did not create that much data. But today,where devices are getting smart and connected via networks,the data outcome is vast. The effort may be costly, but it is apparently the only way for companies to gain additional profits and chances for competitive advantages. To reduce costs, many companies rely on efficient customer targeting. Which can be achieved through mining the profile of the invidivdual, let it be the social media accounts or the purchased items on the shopper card. There are various sources for data, and they generate a lot of it. Not too soon in the future big data will be the one and only tool to achieve cost efficiencies and increase revenues by the outcome of big data,personalized data.

    2.What potential applications do you see for Big Data and in what industries will this add the greatest value?
    I see that applications for smart devices such as phones are useful for several industries to collect valuable data. Like there is the healthcare industry which is starting to collect personal information about customers wearing smart fitness wristbands, showing them the result of their daily performance. The insurance/healthcare company receives information of the customer. By being able to see the condition of the customer, companies are having fewer problems by adapting advertisement or adapt the price for the insurance rate due to changed health status. The interest of people in these values is high, so they accept that their data is being mined by the insurance company. There are also apps, like runtastic, who record the daily jogging run or the hiking tour in the mountains. These records are used to be posted on social media, but the information being set free are much more valuable for companies.

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  18. Joshua Lawlor

    What potential applications do you see for Big Data and in what industries will this add the greatest value?
    I personally fell that big data is such an enormous amount of information, that it can be applied to almost every industry in some way or another. I feel that any industry that has some sort of marketing and must make influential decision making will be able to use this the most effectively. Anything from what clothes to offer, to what sort of foods to offer etc. Because of the large amount of data that is available to search through, you are also able to get a more in depth look at what is the best products to design and create and offer and what specific times of the year. For example in the coffee industry, maybe in the summer people prefer iced coffee more, and maybe coffee is more popular in North America than compared to China, or Maybe at Christmas Peppermint coffee drinks are the most popular out of all the x-mas flavors, therefore you know what new kind of Christmas drink to release, or create. I see big data having an enormous amount of potential, especially as the world progresses more in the direction to becoming more dependent on technology assistance, having that data available will be very helpful in this transition. Another factor that I feel makes big data advantageous and valuable is the fact that it is always growing and always changing because we are constantly creating new data to add to it, and from that new data we can make new discoveries and opinions when compared to old data and trends.

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