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Big data - How will It Impact Businesses & Society?

What is Big Data?

Big data is an all-encompassing term for any collection of data sets so large and complex that it becomes difficult to process using on-hand data management tools or traditional data processing applications. The challenges include capture, curation, storage, search, sharing, transfer, analysis and visualization. The trend to larger data sets is due to the additional information derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correlations to be found to "spot business trends, prevent diseases, combat crime and so on.

Big data is a popular term used to describe the exponential growth and availability of data, both structured and unstructured. And big data may be as important to business – and society – as the Internet has become.

Big data defined

Big data usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage, and process the data within a tolerable elapsed time. In a 2001 research report and related lectures, META Group (now Gartner) analyst Doug Laney defined data growth challenges and opportunities as being three-dimensional, i.e. increasing volume (amount of data), velocity (speed of data in and out), and variety (range of data types and sources).

  • Volume - (amount of data)
  • Velocity - (speed of data in and out)
  • Variety - (range of data types and sources)


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