To first talk about big data, it is important to understand what it is. The term ‘Big Data’ is usually used to define a Big Data Platform. This is a data set that can handle sizes much larger than the average software tools can.
An example of a Big Data tool is Hadoop (mentioned in a previous post) which is used to handle large quantities of data to capture, manage and process. This year, Gartner updated the definition of 'Big Data' to the following "Big Data are high-volume, high-velocity, and/or high-variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization."
Big data is changing what computers can do. Without it, Google would have not been what it is today as the sheer quantity of information has grown significantly. It is changing things for three reasons:
1. It handles huge amounts of information in all types of formats
2. Its fast, almost instant
3. It uses low cost hardware making it affordable
For these three reasons it’s solving several problems companies would normally face.
Pat Gelsinger, the Chief Operating Officer of the storage giant EMC stated that big data is a $70 billion market and is growing at a massive 15-20% a year. Almost every tech company is interested and are investing heavily in ‘Big Data’ products and services.
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