Big Data – A Data Management Revolution On The Way
Today in this modern era, we live in a world where importance of data and it’s management have become very important. How your company makes the use of data with which strategy and approach along with its cloud technologies and choice of big data, will critically affect your ability to compete in future. Big data is not the same old management style of data and it’s a completely new data management system. Let’s check what is Big Data and how it’s going to affect us in future.
What is Big Data
Big data is a data management approach where a large volume of streaming data is processed in real-time. Big Data is like a large pool of data which can help companies to make more accurate decisions about their business operations. Accurate business decisions will allow companies to reduce the risks of their decisions and can take better decisions resulting in reduced operating costs and increased marketing and sales effectiveness.
Big data is something being continuously generated by everything we have around us at all times. It’s produced by every digital process and social media exchange. Sensors, mobile devices, sna system transmits it continuously. Big data is coming from a number of sources with very high velocity, volume and variety. It’s like a tsunami of data. To pull out the meaningful value from big data, optimal processing power, analytical capabilities and skills are something you must have.
Benefits of Big Data
Big data is changing the traditional way for people within the companies working together. Big data is generating a rich culture where business and IT management must come together to make use of the valuable data. Statistics from big data can help employees in making better decisions, more customer engagement, preventing threats and fraud, optimizing operations, and focusing on new sources for revenue. But escalating demand for insights will need a totally new and systematic approach to architecture, practices and tools.
- Competitive Benefits – Data is now coming out as the modern world’s newest resource for advantage over competition.
- Decision making – Decision making now moving from the the elite few to the empowered many.
- Data Value – As the value is increasing day-by-day, current systems won’t keep pace.
Future of Big Data
We are in the era of Internet Of Things (IoT), and in next 5 years more than 30 billion objects will have connection to IoT, roughly around 20 billion more compared to what it was in 2013. Big data seems to have a very bright and extremely promising future.
The data flow will increase tremendously in the coming years. For example, a Boeing 787 generates 40 TB of data per hour; oil & gas off-shore rig generates 8 TB ad day during operations; a self-driving car generates one gigabyte per second; General Electric gas turbines generate 500 gigabytes per day; A self driving car generates average 1 GB each second and the list goes on. Every man made thing will start producing huge amount of data which can help us in making real time analysis. Analyzing this data in real-time means better understanding and more efficient decision.
In order to go hand in hand with Big Data, we will have to define new terms to speed the data processing technology. The current technology can no longer handle the huge data volume. Storage techniques may opt for alternate biological or chemical systems to store data. It looks like the future of big data consists of very huge amount of data which is well connected and well naturalized with the existing universe that may have a shape or life or alertness of their own. Maybe, like us.
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I hope now you guys understand what is Big Data and how it will help us in futures thanks for reading this blog.