According to IBM Every day, we create 2.5 quintillion bytes of data — so much that 90% of the
data in the world today has been created in the last two years alone.
This data comes from everywhere: posts to social media sites, transaction
records, digital pictures and videos. and cell phone GPS signals for example. WE
are generating big data.
What one person means when they talk about big data might not necessarily match
up with the next person’s.
The Simple Answer
The handling and analysis of copious data.
A Bit Deeper…
Big Data is more than analyzing large amounts of data. We are not only creating
this massive data from weblogs, videos, text documents, etc.
This data also resides in vast silos, which means that although businesses
might have access to a mountain of information, they probably don’t have the
tools (or persons) to connect data together to add KPI’s or other types of
business intelligence tools (Theoris Vision?) to quantify or qualify it.
In addition, data is being updated at shorter/ faster intervals and there is no
way for traditional data storage to keep up with this constant change. A new
method has to be created utilizing new technology.
The Simple Truth
Big Data is about liberating data that is large in size, high in velocity and
broad in variety from disparate sources in order to create efficiencies,
develop new products and be more competitive. McKinsey calls
big data “the next frontier for innovation, competition and
productivity.” On board? You already are.