There is an enormous amount of data floating around the
world today and being able to analyze it all has become key. Big data can be
described as data set so large that commonly used software can’t handle it and
has to be used with special software. It is massive and usually unstructured.
It is used in many industries, from health care and finance to travel booking
sites and even sports. It is expected
that data volumes will increase 50-fold
by 2020.
There are some challenges with big data. One challenge is
having a large enough space to store the data. We want to be able to have the
capacity to have the date for us to use. One solution for that is to use cloud
computing to save data in virtual servers. Another issue that may arise is will
we understand the data when it comes in. We will need a tool or software that
will interpret that data that we are pulling in. The main areas that areas that
describe these challenges are called the 4 V’s : Variety, Velocity, Volume, and
Value.
There are also opportunities of working with big data is to
be able to extract information that was not available before. It allows us to
identify trends, extract knowledge, and use data in a productive way. We can
monitor various sources of big data so that we can a varying of information.
Big data seems to be a trend that we will not be able to
avoid, so we should take early strives to embrace it.
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