Saturday, February 28, 2015

Big Data as a Competitive Advantage


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 Everyone is talking about big data and so I looked into articles to see what it actually means and what is the hype about it.Big data is well defined as the three V's : Volume of data ,Velocity of streaming data and Variety of formats of data.Some extend the dimensions to be Variability as data flow can be inconsistent and Complexity to manage or transform data forms.The challenge lies in handling the Big data to be optimized and used effectively.

The use of big data is becoming the key way for leading companies to outperform their peers.However the problems being faced are on the rise.The data being in binary formats require approaches to identify and report the actual content and form patterns to enable the user to see what it means.It is surprising to see that data need not be 100% perfect.However the outlook to this according to Gartner is that  to use the term "Linked data" to describe a data quality process when sampling large data volumes.Linked data is the data from various sources that has a relationship to each other and maintains the context to be useful to the user.

 Large companies seem to be investing a lot on this.However practically it is possible even for small companies to afford this by accessing applications that are available on the cloud.Big data seems to be the next hot technology fix for businesses.Do you agree?Atleast I believe it will be on the market as every companies tag line may be more,who knows what is next...

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