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What Exactly Is Big Data? – Denver Computer Services Explains

Have you wondered what’s the big deal with “big data” or why it has generated so much excitement in the business and IT sectors?

Denver Computer Services companies assure you the answers become quite clear once you understand what big data is, where it comes from and how it can be used to successfully drive your organization’s growth.

Defining Big Data

There are actually two ways to define big data – one related to its size and the other to how it is handled.

  1. Big data is considered as large or complex data sets that cannot be successfully stored or processed by traditional applications.
  2. Among Denver Computer Services firms and others persons in the realm of IT, the term often refers to not so much the size of the data, but to the use of advanced methods, such as predictive analytics, to extract value from it.

Big data has five basic characteristics that help to explain what it is all about.

  • Volume – the sheer size of it
  • Velocity – the amazing rate at which it is generated and processed
  • Variety – the different types and myriad sources of it
  • Veracity – the quality of it and its inherent inconsistencies
  • Value – its potential to drive decision making

Where Does Big Data Come From?

We are surrounded by a plethora of mobile devices, sensors and systems that monitor, measure, gather and transmit data incessantly. It has become the new norm of our lives and for this reason we tend to overlook the many obvious sources of big data. Here are a few general sources and examples:

  • machine data (generated from industrial equipment, sensors and web logs)
  • transactional data (manufacturer and distributor data, product IDs, payment information)
  • social media data (tweets, posts, favorites, keyword analysis, hashtag tracking, blogs, wikis, Yelp, SlideShare, YouTube, Flickr)
  • open data sources (US government’s data.gov and some large corporations willing to share at least some of their data)

How Can Denver Computer Services And Your Company Use Big Data?

Combining big data with advanced analytics helps your management team to determine root causes of successes and failures in near-real time. They can analyze buyer habits, recalculate entire risk portfolios, and possibly detect fraudulent behavior before it becomes an issue. Other benefits include cost reductions, time reductions and new product development.

Conclusion

Big data is an ever-present and indispensable source of knowledge that can successfully drive decision making and business growth in any industry. Its fundamental value lies not in its raw form, but in the processing and analysis. By specializing in data management and analytics, .Denver Computer Services firms keep abreast of the rapid changes in big data technologies and management approaches. That means you can rely on them to provide your company with the very best in big data related support and innovation.

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