What is Big Data? Everything You Need to Know
Currently, the aspect of Big Data and Its Business Impacts interests many professionals, businessmen, and investors. Although calculating data and recognizing and processing information take up less time with the help of modern programs, much remains behind the scenes. Let’s discuss what Big Data (BD) is and how it can affect modern business.
In brief, Big Data can be defined as a combination of technologies that allows completing three procedures simultaneously. Among them are:
- The processing of large volumes of data, when compared with the “standard” volumes;
- The ability to quickly process more amounts of incoming information;
- The ability to process both properly and weakly structured information from different angles and in parallel.
It is important to understand that it imposes certain features on the Big Data.
- Horizontal scalability. As the amount of information increases, more computing nodes are required to distribute this data without compromising performance.
- Fault tolerance. Given that there are more nodes, the probability of failure of some of them increases over time. Therefore, the methodology for working with the Big Data should take this possibility into account and prevent it.
- Data locality. Information is distributed across nodes, which means that it is located on one server but processed on another. Given the big volumes of data, a significant increase in the cost of information transfer is possible; therefore, it is optimal to process data on the same server where it is stored.
As we can see, traditional vertical models of highly structured data storage are not suitable here.
What is Important for a Big Data in Business?
Since the number of necessary features is rather significant, Big Data solutions will require many hardware resources connected into an infrastructure, which, moreover, must be perfectly synchronized. Any component can act as a “bottleneck,” adversely affecting the whole system. The balance and interaction of all the components are important here.
How is everything going? There are 4 processes. Among them are:
- Collection of information. It is the very first step, and the obtainment of data can be implemented in various ways. Sometimes, it is collected without notifying users or even without their participation. It becomes possible due to checking cookies and web trackers. Without proper analysis, this information is not important, but after examination, it becomes very useful for any company. The firms use the data to build marketing moves and to scale their own business.
- Storage of information. More data requires more storage space. Typically, local hard drives and cloud storage are used for this purpose.
- Analysis of information. You must be able to not only collect data but also analyze it. It is a rather difficult task with many subtasks. It can be performed in one or several threads.
- Visualization. The visibility of the result is very important when working with Big Data. Charts, graphs, and other visualization options help to get an idea about the future business development vector or probable problems of current processes.
All in all, regardless of the business size, the collection and processing of Big Data can help improve the effectiveness of the company’s business strategy, indicate shortcomings and possible ways to correct them, create a new vision of the motion vector, and simplify business management in general.