What You Should Know Big Data Meaning, Its types, Characteristics, Used

Big data

Big Data Meaning – Big Data maybe is common word that you often hear today. If we have to describe it in simple way, Big Data can be said as the large volume of data. And, the large word here means it literally large. Usually, this kind of data collection used for running a business, company or organization. Big Data itself has been existed since few years ago.

History of Big Data

In the early of 2000s, Doug Laney, industry analyst, states some interesting fact about this matter. At that time, he said, there are three different characteristics of this big data, which are:

Volume

The volume of data is massive, because the organization or company that uses it collects the data for their internal need from many different sources. It is from their business transaction, internet, like social media and more, data that has been recorded by machine and many more.

In the past, there were always problem when they want to store the data. However, with latest technology, now it won’t be a problem anymore, although with the development of the data size that business used today, it can pass the growth of the storage technology development, which can end up with problem in the future.

Velocity

The speed of data movement or stream is very fast. Way faster than you ever imagined. Therefore, this is where the technology like RFID tags, smart metering and other is needed to keep it run smoothly in real time.

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Variety

Big Data is the collection of data that consist of many different types of data. It could be the traditional numeric data to stock ticker data, email, video and audio.

Those three was the earlier characteristic of Big Data. However, today, there are two more characteristic that you can also find on this huge collection of data, which are:

Variability

Thanks to the development of the internet technology, nowadays, there are too many inconsistency of the data flow.

The high data stream can occur anytime without warning, for example when a topic has become the trending topic in social media.

This gives more challenge to the party that has needs of those data, especially in data management aspect.

Complexity

We live in digital world, which also can be said as data world. Therefore, you also find that data is like our life and Earth itself. It is very complex.

There are many different source, link, system and other that affect on how the data’s form will be retrieved by the party that need it.

Basically, those were what Big Data is and how this name came from. We also can say that the Big Data name born from the rapid development of technology. And, we can say it will keep growing in the future at rapid pace.

The Importance of Big Data

With so many characteristic of Big Data, we can say that Big Data is one of important aspect of today’s world.

So, what kind of usefulness that this data has? We can divide the usage of this Big Data into 4 different categories, which are:

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By using those 4 functions on business world, there are many things that you can accomplice many things in today’s business world. For example:

  • You can easily find the main cause of the error in your company. And with today’s technology that can manage Big Data in short amount of time, you can find the error and fix it almost instantly.
  • You also can use the Big Data to determine your customer buying habits. This will make you easily to choose the best strategy to match with that condition.
  • Big Data also can help business owner to calculate the entire risk of their portfolio faster.
  • Detecting fraud or scam that other party or your people itself that will affect your business.

Who is using Big Data?

By reading all the information above, we can get into one conclusion. Big Data is very important in today’s society. Because of this reason, there are also many parties that used it, such as:

Banking

With many different transaction methods and system, as well as the amount of customer that keep growing, Big Data is important part in banking industry. And, if they can use latest technology to manage it, they get better result as well as satisfied and safer service for their customer.

  • Budget saver
  • Time saver
  • Optimization for product development
  • Help in making decision

Education

The reason is the same with banking world. There are many aspect and factors in today’s education world that related to student. Therefore, using the good Big Data management, they can know more about student. Help the student to develop and prevent from many problems occurs on the student. This will help student to get better future.

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Government

With almost every aspect has been implemented with technology and, we can also said, everything has been digitalized, Big Data is something that government also has to deal with.

And, if it works out, there are many benefits that government can get, from using it for managing the facilities to preventing crime. The problem is maybe how government treats the Big Data. Public, of course, want to make this whole process can be done without breaking the privacy. Transparency is needed here.

Health Care

Big Data in health care industry consist of many things, like patient record, prescription, health history and many more. And, because this is a matter of life and death, the processing of the data must be much faster. So, once again, latest technology has big part here.

Basically, there are many department and field in today’s business world as well as society life that depend on or producing the Big Data.

And, this is quite normal. The most important thing here is how the party that related to that Big Data has ability to manage it. If they can do that, the more beneficial result will be able to achieve.

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