We wrap up our five-part series on the future of big data with a look at what’s next for this exciting field, and how you can get involved. The Future of Big Data has been an incredible series for us, and we’re excited to share it with you! This series has provided you with the most up-to-date information on what’s happening right now in big data, and it’s definitely been a big deal for our team here at Echelon Insights.
What Is Big Data?
Big data is a term used to describe the large volume of data that is being collected and processed by companies and organizations, especially by businesses. The amount of data being collected and stored is increasing rapidly and the term big data has been used to describe this trend.
The release of Gmail in 2005, and the creation of Google Analytics (released in 2009) both contributed to the growth in the use of big data across the web. This trend of massive amounts of data mining is accelerating rapidly, and it’s showing a wide range of benefits and uses.
How Does Big Data Work?
Big data is a term that refers to the collection, storage and analysis of large datasets. It is a relatively new field of study that has emerged as a result of the increasing popularity of data among consumers, businesses and governments. The fields of traditional data science and analytics have been struggling to keep up with the advances in big data.
In this series of posts, we will show you the practical side of big data, from data governance to deployment to analytics, and dive into the latest trends in how big data can change the way marketing is thought of.
Why do analytics become a focus with big data projects? Analytics is sexy, in a good way. As a result of the design and development of new platforms to track both large datasets and small, individual activities, this field has become very popular among teams working on both large-scale marketing projects and those chasing fewer tangible metrics. With the rise in popularity of analytics comes a growing focus from developers and SEOs as well.
Big data has entered the mainstream Although the term “Big Data” has not always been clearly defined, it has been around since the 1990s when it was first used to describe a new world of information that had been gathered by scientists. With the rise of computing and its increasing sophistication, tools such as MapReduce and HBase have helped make big data solutions scalable, efficient and able to scale as they are adopted.
It is no coincidence that these platforms were used so quickly as people started realizing the potential of technology to make data bigger and easier to process.
For example, with new web frameworks such as Ruby on Rails (RJS) and JSwipe it became possible to do everything previously possible with SQL, but much more readily and simply.
Who Can Use Big Data?
Journalists analysts are chasing accuracy plutocrats You’ve likely helped connect companies and brands to experts for interviews, case studies, or direct advice. But now, the rest of the world is following along the same path: driven by an unrelenting obsession with accuracy. The truth is, the journalists and analysts chasing perfection have gotten a little too obsessed. By obsessing over technical accuracy, they also put themselves in the position where they’re blind to actual results.
They may declare whatever you show them is accurate, but the number of companies reading the press, outsourcing opinion, or leaving feedback on your data often leave little room for actual data.
In this episode of The Future of Big Data, we share the uncomfortable reality that results will be subjective, the data maker accountable, and the direct relationship between consumers and brands ending. We’re also spelling out three actions that ego-driven reporters and analysts need to take to steer clear of these slippery pitfalls.
The Future of Big Data: What Will The Next 5 Years Bring?
The future of Big Data is looking bright and that’s because the data we can collect is only going to continue to grow. The amount of data that’s currently available to us is mind-boggling. There are 1.7 zettabytes of data in the world. That’s more than 4,000 Terabytes worth of data that is absolutely free and open.
We are now at the point where we can extract statistics on the amount of gold mined in 24 hours, humanity’s peak weight, the weather throughout history, and what time of day it is in London.
One thing we can say with certainty is that the amount of data continues to grow. According to Statista, more than 2 trillion files of more than 1 MB each are held by businesses worldwide.
That’s 25 Terabytes of data for every adult in the United States, and that number is further multiplied by the billions of files created each day. We can only hope that the amount of data that’s available continues to grow at the same rate as it has the last few years.
Why is the Future of Big Data so exciting? – It’s Economics 101: If you see data that looks like this, then chances are it’s time for you to get up and do something with it. I’ve visualized this process in a series of monographic that show exactly how data is collected and used for all sorts of things, but I think this graphic will make a lot of sense to anyone that’s spent any time looking at the company that developed it.
With the rainforest and the Amazon, cupidity is a major driver behind data collection just look how small pieces change as they propagate through the ecosystem. It’s customization want to use this information for everything from sending targeted email blasts to analyzing financial data? Have at it.
