Organizations around the world constantly are standing in the gap between the two camps of big data and analytics. Many people wonder what the differences between big data and analytics are. Here are three Vs of big data when compared to analytics.
Where analytics gives you filters that you can apply to sift through your data, big data doesn’t really do the same thing. According to recentresearch done by International Data Corporation (IDC), the number digital data of will grow exponentially by 2020. For reference, in 2013 it was noted that there was 130 exabytes of global data out there and by 2020 the IDC estimates that number will grow to 40,000 exabytes. So in essence, there’s a lot of data out there to be read. So keep in mind, the more data there is, the more there is to sift through. While this may take time there are always “diamonds to be found in the rough.”
How quickly data is acquired can be even more important than the volume of data. When businesses are able to attain data in real-time or even almost real-time, it allows them to be able to make decisions for their business much more quickly and even accurately. Big data is capable of gathering mass amounts of data extremely quickly.
Big data can take shape in many different forms. You can gather big data from photos posted on Instagram or Facebook, emails and text messages that have been sent, tweets, GPS signal and the list goes on. Basically, we are all walking breathing data emitters. While there may be a large variety of big data it’s not always organized in its own sort of database.
Big data may be like a wild mustang that can be too hard to tame, but there are always many diamonds in the rough. Something you have to ask yourself and your company is what kind of time and abilities do you all have to be able to sift through the big data to find what you’re looking for. Big data can be helpful, but only really if you have the time.