What is Big Data?
Big data is characterized as the data that can not be prepared by customary methods and systems, because of its large size and complexity. The word Big in big data means petabytes or exabytes of data. It is calculated that nearly 90% of the data that we have today has been generated in the last two years. This implies; exponential growth in data volume is going to proceed. This growth will increase further with the increase in IoT (Internet Of Things).
Data analytics mainly uses Big Data. It gives necessary insights into business operations of any business. It helps businesses in growth, competitiveness and profitability.
Need of Big Data –
There are many challenges for handling a huge data in applications. Big data is no longer growing trend. This is now time-tested, accepted with a sound, secure, stable architecture. It is synchronized with information, generating efficient analytics by organizations, ranging from data oriented start-ups to big technology giants around the globe. There are many tools on the internet, there is considerably more to it than Big Data alone.
If you hold a large amount of various data, and from this you need to find out answers at fast, you may look at the opening gates called “the three V’s” of the data. This means that you are ready to look at better solutions that fulfils your need of data. Can you say that it is enough? Of course not.
Do you want to turn your existing application asset to a bigger store for a theoretically possible performance? How big are your existing data security issues and how would you deal with the same on the new infrastructure? Is your data “big” enough for these solutions? Such questions carry you to a point where you have to think about a couple of significant things. You realize that first, the idea of building an efficient big data infrastructure, lies the need to build a decision on whether to present a big data infrastructure or not.
Why you should need big data in an organization?
Organizations or businesses requires a big data services to allow them to survive in a fast growing and increasingly competitive market where the sources and the requirements to store data are growing at exponential manner. To handle high volumes, the data storage should be elastic and scalable. Cloud based storage is a better idea for most businesses because it reduces investments. There are no physical systems on site, means that it saves space and power consumption. It handles the data security issues. You require tools to enable virtualization and carry out data compression. You should require object-based storage architecture to handle a large amount of files. organizations are looking out for the solution that can store complex unstructured data and which do not have predefined schemas.
Big Data solutions do not force a schema onto the stored data. Instead you can store any type of structured, semi-structured or unstructured data and then apply a suitable schema when you query this data. Big data solutions store data in raw format and apply a schema only when the data is read. This preserves all information within the data. This is contradictory to the way of traditional database.
Data Magnitude Determination-
In 1997, the first documented use of the term “big data” appeared in paper by scientists at NASA. It describes the problem facing by them with visualization. Generally data sets are large, taxing the capacities of main memory, local disk and remote disk. This problem is Big Data. When there is a situation like data sets don’t fit in main memory, or when they do not fit on local disk also, in such cases the solution is to acquire more resources.
Another most important factor is what you want to do with the data. The problem is big data solutions is that they are numerous. Getting the perfect tool is important for the cost, efficiency and delivery constraints also. Creating an understanding of these factors is a main requirement of big data infrastructure requirements.
Necessity of Advanced Analytics-
An interesting thing that gives thought on analytics is- one of the financial services firm which turned to big data to better identify which new client opportunities warrant the most investment. The organization enhanced its client statistic information with third party data purchased from eBureau. The data service provider appended sales lead opportunities with buyer’s occupation, earnings, age, retail histories and also related factors. The advanced data set is then applied to an algorithm. This identifies which new client leads should receive additional investment and which should not. The result has been 11% hike in new client win rates. At the similar instance, the firm has lowered sales related expenses by 14.5%.
There are some benefits that big data analytics offer are – Getting answers to complex business problems, creating cost effective requirements to bring in more customers, analyzing existing values to predict faster and better business decisions, and also exploiting machine learning analytics to make self learning systems.
Right time for data transition and security issues-
Data-driven transition must start with your business goals and also objectives. As you understand your business objectives then you are ready to create a roadmap for leveraging new data sources to help you achieve them. Also, technology is not only enough to transform your organization into a data-driven organization. Creating a platform that understands data, securing the data and how to use it is just as necessary. The challenge of detecting and also preventing advanced persistent threats has bought the importance of security responsibilities in light.
Data is expanding and so is the necessity of organizations managing it rises. Some of the technologies like IoT applications, web and cloud analytics, image processing, data science etc. are also growing rapidly. And it realizes the necessity of data mining. Technology solutions are rapidly growing and with the same speed big data technologies are also rapidly evolving.
Are you looking to develop a web application for your business having large amount of data? Just relax, Solace experts are capable of incorporating big data for web solution. They believe in benefits of using big data. Contact us for web development of your business where there is a need to deal with big data.