Big Data: Meaning and Types Management YouTube Lecture Handouts

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Big Data: Meaning and Types Management

Meaning

  • It is used to describe the massive volume of both structured and unstructured data that is so large that it is difficult to analyze with the traditional technology.
  • We all use various social media sites and on these infinite data is available and it is further it desired can be analyzed through various big data analytics tools like Hadoop, Cassandra, Wolfram Alpha, NodeX etc.

Characteristics of Big Data

Back in 2001, Garter analyst Doug Laney listed the 3 V՚s of Big data. Those are:

  • Variety: It includes the structured, unstructured, and semi structured data that is gathered from multiple sources.
  • Today data comes in an array of forms such as Videos, photos, emails, pdfs etc.
  • Velocity: It is basically the speed at which data is created in real time. In broader aspect, it comprises of linking of incoming data sets at varying speeds, rate of change etc.
  • Volume: It simply means huge data that is generated on a daily basis from various like human interactions through conferences, seminars etc. ; social media platforms, machines etc.

Features of Big Data

  • Helpful in giving Insights: With the big data insights, one can stay ahead of the competitors as one can screen the market to know what king of pricing strategies, promotional offers are provided currently by the competitors.
  • Big data analytics: Various tools can be used to understand how well the companies products are doing in the market and how customers are responding to them. Thus, it helps in understanding where to invest the time and money
  • Streamlining digital marketing strategies: big data, specially the one gathered from social media platforms, helps in providing insights into the customer pain points and allow companies to improve upon their products and services.
  • Abundance to get an overall view: Since big data is huge, at the time of analytics there is possibility of paucity of data and hence complete, accurate view point can be formed

Types of Big Data

  • Structured Data: By structured we mean, that the data can be processed, stored and retrieved in a fixed format. It basically refers to highly organized information that can be readily stored and accessed from data base by simple search engine algorithms.
    • For example: Employee data in the form of tables.
  • Unstructured Data: It refers to the data which lacks any specific form. This makes it very complex and time consuming to process and analyze the same. Email is an example of unstructured data as there is no specific form in which we can analyze what is in the email
  • Semi Structured: It has the quality of both the structured and unstructured data. To be precise, it refers to a data that although has been classified under a particular repository but yet contains information or tags that separate individual elements within the data

MCQs

3 V՚s of Big data were given by?

1. Doug Laney

2. Albert Bandura

3. Adam Smith

4. Sigmund Freud

Which among the following is not a tool of big data Analytics?

1. Cassandra

2. Spark

3. Hadoop

4. None of the above

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