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Big Data

TOP TECHNOLOGY TRENDS. Big Data. What is it?. The term “Big Data” is used to describe the growing accumulation of data from various internal and external sources Big data describes the increase in the collection and storage of information, most of it valuable and irretrievable.

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Big Data

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  1. TOP TECHNOLOGY TRENDS Big Data What is it? The term “Big Data” is used to describe the growing accumulation of data from various internal and external sources Big data describes the increase in the collection and storage of information, most of it valuable and irretrievable Big Data issues deal with data architectures, taxonomies, data classification, data management, retrieval, analysis and use Businesses are confronted with the paradox of being data rich but information poor, and need for effective means to use the increasing amount of data to provide more effective and timely information

  2. TOP TECHNOLOGY TRENDS Big Data Why is it Important? New sources of information are being developed. New techniques are needed to fully benefit from this information The growth in unstructured information (email, word documents, PowerPoint's etc.) already out paces the traditional sources of transaction data Organizations that are able to extract useful information from the growing sources of data will have more insight into their organization, its customers, suppliers, products, its people and its profits  While the opportunities are significant, there are still technical obstacles Currently, industry observations indicate many experiments few pervasive and sustainable implementations

  3. TOP TECHNOLOGY TRENDS Big Data Issues and Risks Few organizations even know what information assets they have Fewer still have the capability to manage those assets. Email is an example that resonates with many – are there classification, retention and disposition standards and how effectively are they applied With e-discovery in the courts routinely applied to email, management is becoming increasingly aware of the issues associated with large volumes of data Many of the issues that we see emerging relate to future difficulties in leveraging both unstructured and structured data Taxonomies exist in some industries but few are available for unstructured data

  4. TOP TECHNOLOGY TRENDS Big Data Issues and Risks Many large technology providers are putting forward technical solutions however these generally assume the ability of the business to govern its data e.g. have common definitions for key information assets such as customer or product In many organizations standard definitions do not exist or are not applied rigorously or consistently to these growing volumes of data Ineffective search results or too few or too many results resulting from poor definitions or taxonomy Increasing need for storage of data and how to assess which storage solution fits best for their business environment and needs

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