3_Big_data_presentation_l2_v1

Introduction to Big Data & Basic Data Analysis

Big Data has the potential to help companies improve operations and make faster, more intelligent decisions. The data is collected from a number of sources including emails, mobile devices, applications, databases, servers and other means. This data, when captured, formatted, manipulated, stored and then analyzed, can help a company to gain useful insight to increase revenues, get or retain customers and improve operations.

While the term may seem to reference the volume of data, that isn't always the case. The term big data, especially when used by vendors, may refer to the technology  (which includes the tools and processes), that an organization requires to handle the large amounts of data and storage facilities. The term is believed to have originated with web search companies who needed to query very large distributed aggregations of loosely-structured data.

An example of big data might be petabytes (1,024 terabytes) or exabytes (1,024 petabytes) of data consisting of billions to trillions of records of millions of people—all from different sources (e.g. Web, sales, customer contact center, social media, mobile data and so on). The data is typically loosely structured data that is often incomplete and inaccessible.

When dealing with larger datasets, organizations face difficulties in being able to create, manipulate, and manage big data. Big Data is particularly a problem in business analytics because standard tools and procedures are not designed to search and analyze massive datasets.

4 Vs

Volume
The quantity of generated and stored data. The size of the data determines the value and potential insight, and whether it can be considered big data or not.
Variety
The type and nature of the data. This helps people who analyze it to effectively use the resulting insight. Big data draws from text, images, audio, video; plus it completes missing pieces through data fusion.

4 Vs

Velocity
In this context, the speed at which the data is generated and processed to meet the demands and challenges that lie in the path of growth and development. Big data is often available in real-time. Compared to small data, big data are produced more continually. Two kinds of velocity related to big data are the frequency of generation and the frequency of handling, recording, and publishing.
Veracity
It is the extended definition for big data, which refers to the data quality and the data value. The data quality of captured data can vary greatly, affecting the accurate analysis.