Chapter 8 - UNDERSTANDING BIG DATA & IT'S IMPACT
Definition of Big Data
*Gartner Research:* Diverse, high-volume, high-velocity information assets that require new forms of processing to enable enhanced decision making, insight discovery, and process optimization. (www.gartner.com) | *Big Data Institute:* Exhibit variety. Includes structured, unstructured, and semi-structured data. Are generated at high velocity with an uncertain pattern. Do not fit neatly into traditional, structured, relational databases. Can be captured, processed, transformed, and analyzed in a reasonable amount of time only by sophisticated information systems.
Data Visualization
Infographics, Data artist, Analysis paralysis, Data visualization, Business intelligence dashboards
Data mining prediction analysis methods
Optimization, Forecasting, Regression
Data mining
The process of analyzing data to extract information not offered by the raw data alone.
What is Big Data
Traditional enterprise data, Machine-generated/sensor data, Social Data, Images captured by billions of devices located around the world
Four common Big Data characteristics
Variety, Veracity, Volume, Velocity
Dimension
A particular attribute of information
Big data
A collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools and includes the following four common characteristics
Power of Big Data
Big data can help an organization analyze petabytes for data for patterns, trends, and anomalies
Cube
Common term for the representation of multidimensional information
Virtualization
Creation of a virtual version of computing resources, such as an operating system, a server, a storage device, or network resource
Distributed computing
processes and manages algorithms across many machines in a computing environment
Data-mining tools
use a variety of techniques to find patterns and relationships in large volumes of information and infers rules that predict future behavior and guide decision making.