Big data has emerged as a key tool to the issue of dealing with vast amounts of data within the enterprise. In fact, according to a new report, the use of big data and analytics has enabled large firms to create new business capabilities, conduct processes efficiently and cost-effectively and transform data into value to achieve larger payoffs.
For those who want to take plunge into big data, here’s an excellent video introduction to big data.
In this video, Christopher Barnatt of ExplainingComputers.com explains what the term “big data” means and how it transforms business. You will learn interesting facts about big data — its characteristics, how it is being generated, the technologies used and the potentials of big data.
Below are some key takeaways from the video:
- Big data is the next big thing in computing and generates value from very large data sets that cannot be analyzed with traditional computing techniques.
- Big data is often characterized using the 3Vs of volume, velocity and variety. Volume poses both the greatest challenge and the greatest opportunity as big data could help many organizations to understand people better and to allocate resources more effectively.
- The leading big data technology is Hadoop – an open source software library for reliable, scalable, distributed computing and provides the first viable platform for big data analytics. It is already used by most big data pioneers such as LinkedIn which currently uses it to generate over one hundred billion personalized recommendations every week.
- Hadoop consists of two key components — Hadoop Distributed File System (HDFS), which permits the high-bandwidth, cluster-based storage and MapReduce, a data processing framework.
- Big data opportunities >> potential to improve analytical insight, as well as allowing the creation of new products and services that were previously impossible; US healthcare sector could achieve $300 billion in efficiency and quality savings every year