Big Data is a concept that has existed for a while, but only gained proper attention a couple of years ago. It can be described as extremely large data sets that have grown so big that becomes almost impossible to manage and analyze them with traditional data processing tools. Big Data can be used by enterprises in by building new applications, improving the effectiveness, lowering the costs of their applications, helping with competitive advantage, and increasing customer loyalty. It can also be used in other industries to enable a better system and better decision-making. Big Data has become a valuable asset to everyone around the world and continues to impact society today.
The ideology of Big Data first came up in the days before the age of computers, when unstructured data were the norm and analytics was in its infancy. The first Big Data challenge came in the form of the 1880 U.S. census, when the information concerning approximately 50 million people had to be gathered, classified, and reported. This census contained a lot of data to deal but there was limited technology in order to organize and manage it. It took over seven years to manually put the data into tables and report on the data.
Thanks to Big Data, the 1890 census could be placed into punch cards that could hold about 80 variables. Instead of seven years, the analysis of the data only took six weeks. The innovation of Big Data allowed the government to be able to act on the information in a reasonable amount of time. In order to further understand the concept of Big Data, it must be broken down into the 7 V’s ¬– volume, velocity, variety, veracity, variability, visualization, and value. These terms explain the impact and implications of a well thought through. .
ll have a gigantic impact on society, the way organizations are managed and operated, the way government is organized, and eventually, how the global economy functions. Big Data will bring many benefits to consumers, such as better and more personalized products, improved services, lower energy bills, and more transparency. Thanks to the quantified-self movement, consumers are able to track and monitor their every move and thus gain a better understanding of their own lives. Big Data, however, will also affect the privacy of consumers. Big Data involves having more data than you can handle with the computing power you already have, and you cannot easily scale your current computing environment to address the data. The definition of Big Data therefore continues to evolve with time and advances in technology.
Big Data will always remain a paradigm shift in the making.