What is Big Data?
Sharing an excerpt of the first chapter of an eBook published by Jigsaw Academy’s Big Data Team, titled ‘Beginner’s Guide to Big Data Analytics’.
This book aims to give one an understanding of Big Data and what makes data big, while also elaborating in simple language the challenges of Big Data, the emerging technologies and the Big Data landscape. The book also gives valuable insights into careers in Big Data and a glimpse into what the future could hold in store for the industry. The book is a useful companion to those of you enrolled in Jigsaw’s Course ‘Big Data Analytics Using Hadoop and R’. You can use this book to compliment your learning and better understand Big Data.
To download the full ebook for free, please visit our website www.jigsawacademy.com and visit the free trial section. You can not only download this ebook, but you will also get access to our other free resources, eBooks and reports. You can also get a first hand feel of our courses, as we have loads of free course videos and class recordings.
“I don’t know how the cost of hard disks has decreased so rapidly. These days one can buy a terabyte hard drive for just $100” a friend told me couple of years ago. It’s hard not to agree with him and a quick review of historical facts validated his opinion. In the 1990’s, the cost per 1 gigabyte of hard disk was around $10,000 and now it can be purchased at only $0.1. The price has dropped 100,000 times over a span of 20 years. Currently we are even seeing that a few gigabytes of hard disk space are being offered free of cost by email service providers and file hosting services. For personal accounts, Gmail offers about 15 gigabytes of free hard disk space whereas file hosting service Dropbox offers up to 3.5 gigabytes. However, these values are on the higher side for business accounts.
One would wonder how enterprises are influenced by the lower costs of storage space. For one, it definitely provides them with more opportunities of storing data around their product and service offerings. Virtually every industry is seeing a tremendous explosion in terms of new data sources and is dependent on advanced storage technologies. Increased adoption of internet and smart phones enabled individuals across the globe to leave a huge digital footprint of online data which is wanted by many enterprises. In the past, for example, banks used to store customer data mostly around demographic information tracked from application forms and further transaction information tracked from passbooks. These days, the customer data being stored is enormous and varies widely across mobile usage, online transactions, ATM withdrawals, customer feedback, social media comments and credit bureau information. All these new sources of data which did not exist in the past can be categorized under the new word “Big Data”. Big Data can be easily referred to as data which is huge, but more importantly Big Data is data that comes from multiple sources rather than just one.
Big Data is definitely one of the more fascinating evolutions of the 21st century in the world of IT. The truth is that Big Data has opened up tremendous opportunities and has provided us with endless solutions to deal with social, economic and business problems. For enterprises, it is a huge untapped source of profit, which if used appropriately will be the key to staying ahead of their competition. In order to deal with Big Data effectively, they need to depend on advanced database technologies and faster processing capabilities. Just having Big Data is not a sufficient criterion for success; enterprises also need to implement analytics effectively, in order to be able to garner insights that help improve profitability. They should actively pursue the art and science of capturing, analyzing and creating value out of Big Data.
Interested in a career in Big Data? Check out Jigsaw Academy’s Big Data courses and see how you can get trained to become a Big Data specialist.