Background information on Big Data

What is Big Data?

Big data refers to the vast amounts of consumer and business data which can be captured through:

  • Mobile devices (Tablets, Smartphones e.g.)
  • Internet (website, e-commerce, Search-engines, mobile websites, apps)
  • Cloud computing
  • Social Media and social data (Online profiles (e.g.,Facebook, datingsites, Youtube, LinkedIn), Twitter, YouTube, LinkedIn, Google+)
  • Customer loyalty programms

Big Data can be benefiticial to business if valuable insights can be observed: changing customer priorties, impact of external events.

What is the Big Data challenge?

  • How we can understand and use big data when it comes in an unstructured format, such as text or video?
  • How we can capture the most important data as it happens and deliver that to the right people in real-time?
  • How we can store the data, and how we can analyze and understand it given its size and our computational capacity?
  • How to deal with content duplication, identical copies, retention?
  • How do we deal with privacy, security and deplyoment?
  • How to seize upon the information rapidly acumulating around us, in order to support business decisions?

The challenges with big data are limited compared to the potential benefits, which are limited only by our creativity and ability to make connections among the of bytes of data we have access to.