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Understanding Big Data: Characteristics, Challenges, and Benefits

This article explains what big data is and its characteristics, explores the challenges associated with big data, and highlights the benefits it brings. Learn how big data is used in various fields and how it can optimize business processes.

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Understanding Big Data: Characteristics, Challenges, and Benefits

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  1. Group members are: Syeda Subbuh Hassan (275) Salman Ahmed(279) Laraib Ghous(311) Hassan Mujhtuba(303) Munesha Rathi(324)

  2. CONTENT: • What is big Data? • What Comes Under Big Data? • Characteristics of big Data. • Big Data Challenges • Big Data Benefits

  3. What is BIG DATA? Josh Dreller said : “Big data as anything too big to deal with in an Excel spreadsheet” The basic idea behind the phrase “Big Data” is that everything we do is increasingly leaving a digital trace(or data), which we (and others) can use and analyze.

  4. Big data burst upon in the first decade of the 21st century. • Big Data is one of those things, and is completely transforming the way we do business and is impacting most other parts of our lives. • The first organizations to embrace it were online and startup firms. Firms like IBM,Google, eBay, Linkedln, and Facebook were built around big data from the beginning.

  5. CHARACTER OF BIG DATA: VOLUME: • Following Big data implies enormous volumes of data. • Now that data is generated by machines, networks and human interaction on systems like social media the volume of data to be analyzed is massive.

  6. VARIETY: • Variety refers to the many sources and types of data both structured and unstructured. • We used to store data from sources like spreadsheets and databases. • Now data comes in the form of emails, photos, videos, monitoring devices, PDFs, audio, etc. This variety of unstructured data creates problems for storage, mining and analyzing data.

  7. VELOCITY: • The flow of data is massive and continuous. • This real-time data can help researchers and businesses make valuable decisions that provide strategic competitive advantages.

  8. Example:

  9. What Comes Under Big Data? • Big data involves the data produced by different devices and applications. Given below are some of the fields that come under the umbrella of Big Data. • Black Box Data : It is a component of helicopter, airplanes, and jets, etc. It captures voices of the flight crew, recordings of microphones and earphones, and the performance information of the aircraft. • Social Media Data : Social media such as Facebook and Twitter hold information and the views posted by millions of people across the globe. • Stock Exchange Data : The stock exchange data holds information about the ‘buy’ and ‘sell’ decisions made on a share of different companies made by the customers. • Transport Data : Transport data includes model, capacity, distance and availability of a vehicle. • Search Engine Data : Search engines retrieve lots of data from different databases.

  10. How is big data used?Understand and optimize bussiness process:- • Big data is also increasingly used to optimize bussinessprocesses.Retaillers are able to optimize their stock based on predictive models generated from social media data,web search trends.Another example is supply chain or delivery route optimization using data from geographic positioning and radio frequency identification sensors.

  11. Big Data Challenges The major challenges associated with big data are as follows: • STORING BIG DATA: Big data storage is a storage infrastructure that is designed specifically to store, manage and retrieve massive amounts of data, or big data. Enables the storage and sorting of big data in such a way that it can easily be accessed. Able to flexibly scale as required.

  12. PROCESSING BIG DATA: Big Data processing techniques analyze big data sets at terabyte or even petabyte scale. While real-time stream processing is performed on the most current slice of data for data profiling to pick outliers, fraud transaction detections, security monitoring, etc.

  13. Big Data Benefits • Dialogue with consumers: They look around a lot before they buy, talk to their entire social network about their purchases, demand to be treated as unique and want to be sincerely thanked for buying your products. Big Data allows you to profile these increasingly vocal and fickle. • Re-develop your products: Big Data can also help you understand how others perceive your products so that you can adapt them, or your marketing, if need be.

  14. Customize your website in real time: Allows to personalize the content or look of your website in real time.Cananalyse user by their sex, nationality or from where they ended up on your site. • Reducing maintenance costs: Help in estimating the equipment failure which promotes cost-effective replacement strategy for the utility and less downtime, as faulty devices are tracked a lot faster. • Making our cities smarter: An increasing number of smart cities are indeed leveraging Big Data tools for the benefit of their citizens and the environment.

  15. Create new revenue streams: Help in understanding future needs and demands.Beneficial for investors and businessman. • Perform risk analysis: Big Data allows you to scan and analyze newspaper reports or social media feeds so that you permanently keep up to speed on the latest developments in your industry and its environment. This will allow you to take action when one of them is in risk of defaulting.

  16. Video:

  17. Refrences: • http://www.dataversity.net/category/data-thttp:// • www.sas.com/en_us/insights/big-data/what-is-big-data.htmlopics/big-data/big-data-slide-presentations/ • http://www.ibmbigdatahub.com/sites/default/files/infographic_image/where%20does%20big%20data%20come%20from%20pin.jpg • http://www.dataversity.net/category/data-topics/big-data/big-data-slide-presentations/

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