Big Data: Everything You Must Know About

What Is Big Data?

Big data is an elusive concept. It represents an amount of digital information, which is uncomfortable to store, transport or analyze. Big data is so voluminous that it overwhelms the technologies of the day and challenges us to create the next generation of data storage tools and techniques. It has three V’s Volume, a large amount of data. Velocity needs to be analyzed quickly. Variety, different types of structured and unstructured data.

What are the volumes of data that we are seeing today?

· The data volumes are exploding, more data has been created in the past two years than in the entire previous history of the human race. Data is growing faster than ever by the year 2020, about 1.7 megabytes of new information has been created every second for every human being on the planet.

· Every second we create new data. For example, we perform 40,000 search queries every second (on Google alone), which makes it 3.5 searches per day and 1.2 trillion searches per year.

· Facebook users send on average of 31.25 million messages and view 2.77 million videos every minute.

· We are seeing massive growth in vidg0eo and photo data, where every minute up to 300 hours of video are uploaded to YouTube alone.

· This year, over 1.4 billion smartphones will be shipped-all packed with sensors capable of collecting all kinds of data, not to mention the data the users create themselves.

· Everyday business and consumer life create 2.5 quintillion bytes of data per day.

What does the future look like?

Once global data started to grow exponentially a decade ago, it has shown no signs of slowing down. The world is powered by big data now forcing companies to seek experts in big data consulting, capable to harness complex data processing. Here are some expert’s predictions on the future of big data.

· Data volumes will continue to grow. There is absolutely no question that we will continue generating larger volumes of data, as we are considering the number of handheld devices and internet-connected devices is expected to grow.

· According to Ovum ways to analyze data will improve.

· Prescriptive analytics will be built into business analytics software.

· In addition, real-time streaming insights into data will be the hallmarks of data winners going forward, according to Forrester.

· Big data will face huge challenges around privacy, especially with the new privacy regulation by the European Union.

· More companies will appoint a chief data officer.

· Autonomous agents and things will continue to be a huge trend, according to Gartner, including robots, autonomous vehicles, virtual personal assistants, and smart advisers.

· Algorithm markets will also emerge

Only time will tell which of these predictions will come to pass and which will merely pass into obscurity. But the important takeaway is that big data is only going to get bigger.