Let me begin this first with a definition of what Big Data is. So it has been known that Big data is a general term used to describe a big amount of unstructured and semi structured data for a certain company. This was created as to save cost, time and space as compared to loading this data to relational database for a quick analysis. Big Data can refer to the unit petabytes and exabytes of data.
So for quick recap, it can be said that more and more business today had been looking to include non-traditional and less structured data with traditional data analysis. It has also been known to be described with four V’s, volume, variety, velocity and value.
Volume stands for the data amount generated from new and old sources everyday including all media sites and any sources one can think of. For velocity, this ensures that time sensitive processes such as detecting fraud can be done in no time, a minute can be too late. Variety stands for the structured and unstructured data that is combined. Veracity on the other hand keeps everything verified to its trustworthiness.
But then, Big Data success can still depend on certain things.
Collect all data you can for your needs. This can be the first thing in there. You cannot start to structure you’re your database and your insights if you don’t have this variety of data. So collect more, store it in a less costly manner.
Group your data. Categorize theme to which is useful, which is not. Or what can bring you the best advantage or what can’t. This way, analysis can be easier. This saves you time too.
Manage data effectively. Employ data governance. Manage your data for its availability and usability in your business.
Hire a team. A team can be a great way to ensure that you have a well managed data instead of having only one. Just make sure this team of yours will be working harmoniously with one goal which was the same as yours.
Secure your data. So in big data repository, there can be lots of things to secure such as your high volume data and other sensitive data for your company.
In addition, Big data seems to be the new trend this 2013 as predicted by all other trend studies done by experts. Though there will be risks for this later, we can’t deny the fact that this will be the new Mecca of business in terms of data management. Such will help in the repository of financial, personal, intellectual properties that sometimes is hard to store or keep.
Although Big data is already getting big this year, and we might not know about the next year. However, the only thing that we should be ready for is its protection and security. There will be big issues of it if Big Data is unmanaged or left unsecured. Companies should be aware of the implication of these things. So with the right management team or not, there will be risk, make sure it is worth the taking.
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