(Source: Big Data)
We live in an information age where the most powerful entity is data. The volume of data is ever increasing and becoming complex day by day. The ability to capture, curate, search, share, store, transfer and analyze such a huge volume of data has become a challenging task. Big data usually refers to the technology which provides ability to extract meaningful information from such huge volume of data. The Big Data Technology supports search, development, governance and analytics services for all data types ranging from transaction and application data to machine and sensor data to social, image and geospatial data.
Internet of things and its Big data connection
The internet of things (IOT) or internet of everything is a network of physical objects or “things” embedded with electronics, software, sensors and connectivity to enable objects to exchange data. The internet of things will create a stream of data which will lead to unimaginable amounts of data. For example you have a sensor in your refrigerator. This sensor will help in transmitting data to the manufacturer when there is a need to change the compressor or when it requires servicing. There would be sensors on farm animals which will indicate their health parameters as well when they are ready to provide milk. With every physical object possessing the potential to produce data with complex data structure, only big data technology could handle such massive amounts of data. The Big Data technology architecture will be able to derive value from this large volume of data to provide business intelligence. Many businesses have started implementing IOT and are relying on Big Data to give them competitive advantage.
With the huge volume of data following through the network of businesses, for the traditional software it has become impossible to recognize security breaches. With Big Data analytics it has been possible to analyze complex data. The big data analytics can pick up any suspicious behaviours and pattern which indicate that a network is under attack. The traditional security platforms have limited capabilities and they don’t interact with other platforms to detect any security breaches. The big data analytics is now seen as an essential part of security infrastructure to identify and remediate advanced persistent attacks which were undetectable earlier. This very capability of big data makes it a very useful technology for businesses handling high volume of complex data.
Big Data technology is becoming very useful in evolution of the ecommerce industry. It provides a powerful tool to businesses in understanding of purchasing trends based on various factors. The analytics allow in understanding customer behaviour and help in designing strategy to allure customers. The Big data is making it possible to provide customers a personalized experience while shopping online which matches their preferences. With customer insights, the businesses can make better operational decisions related to inventory management, positioning products and deciding the prices of goods.
Data Driven culture
Big Data is causing companies to make paradigm shift by depending on their data. With the possibility of deriving value from large volume of structured and unstructured data through Big Data technology, the businesses are now investing in centralized data storage. Smart real time dashboards and layered access to data based on roles is facilitating data driven culture. Earlier the businesses didn’t consider that their data will provide them credible information for decision making. Since the big data has gained traction, businesses now understand the value of having an infrastructure to store and analyze volumes of data for better decision making. The businesses which will use Big data technology will have a competitive edge over those who are not using it.
In memory Databases
As the importance of data has increased for businesses they are now implementing In memory databases which allow quick access, analysis and action based on data. They are much faster than the regular databases and help in making real time decisions. The In memory database are crucial for implementing Big Data technology as the speed at which results are needed has increased considerably. This is another major change which is being adapted by the businesses which have now realized the importance of data.
Growth in clouds
Big data is not only facilitating but driving growth of clouds. With Big Data catching up, the revenue for cloud providers shot up by 47% in fourth quarter of 2013 to reach a staggering $6.2 billion mark as per Technology Business research. The growth of Amazon’s Redshift and Google Big Query is largely fuelled by Big data. This implicated that the Big Data technology is driving businesses to invest in more advanced IT infrastructure thereby helping the growth of IT industry and creating more jobs as well.
The demand for Computer System Analyst with Big Data expertise has increased by 89.9% in the past year itself. There is a huge demand for Computer and Information Research Scientist which has increased by 85.40% in past 12 months. The demand for Python programming expertise increased 96.9% in Big data related positions in the last month. These trends implicate only one fact that Big Data is creating large number of job opportunities worldwide. In the near future there would be high demand for candidates who have skills that include data analysis, data acquisition, data mining and data structures. Big Data will provide ample amount of growth opportunities for professionals who have Big Data expertise.
From the above mentioned points it can be clearly seen that Big data is providing the stage for major changes across businesses and effecting the life of a large number of people directly or indirectly. Big data technology has proved to be the best technology in 2015 due to its ability to transform the business. Big Data is a forward looking technology which will facilitate many changes in the near future. This technology can be very powerful in developing economies where the government can use Big Data to derive trends of the population and take decision based on these trends for betterment of the people.
Featured image source: Big Data
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