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ECT News Community   »   TechNewsWorld Talkback   »   Re: Big Data: The Key Focus of a Data Scientist



Re: Big Data: The Key Focus of a Data Scientist
Posted by: James Cook University 2019-06-07 00:47:50
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Big data -- a term used with increasing frequency -- refers to the rafts of data that businesses collect on a day-to-day basis, both advertently and inadvertently. The number of avenues that data can be gathered from is always growing and becoming easier to access. By 2025, more than 150 trillion gigabytes of data will need analysis. But it's not the volume that matters, it's how businesses process and use the data that's important. Enter data scientists.


Re: Big Data: The Key Focus of a Data Scientist
Posted by: nazmah 2019-12-17 00:31:04 In reply to: James Cook University
The term “big data” refers to data that is so large, fast or complex that it’s difficult or impossible to process using traditional methods. The act of accessing and storing large amounts of information for analytics has been around a long time. But the concept of big data gained momentum in the early 2000s when industry analyst Doug Laney articulated the now-mainstream definition of big data as the three V’s:

Volume: Organizations collect data from a variety of sources, including business transactions, smart (IoT) devices, industrial equipment, videos, social media and more. In the past, storing it would have been a problem – but cheaper storage on platforms like data lakes and Hadoop have eased the burden.

Velocity: With the growth in the Internet of Things, data streams in to businesses at an unprecedented speed and must be handled in a timely manner. RFID tags, sensors and smart meters are driving the need to deal with these torrents of data in near-real time.
Variety: Data comes in all types of formats – from structured, numeric data in traditional databases to unstructured text documents, emails, videos, audios, stock ticker data and financial transactions.
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