You may be thinking that big data is one which is gigantic in size. But I want to make one thing clear, it’s not all about the size of the data, it’s also about diversity and velocity. Big data is a term used for the database which is so multifaceted and voluminous that traditional data processing software is incapable of processing it, I noticed head Developer Ecosystem at Adobe saying, "there are just two assurances of huge information today: it won't resemble yesterday's information structure, and it will be quick." This provides a glimpse of the way that the system of databases is advancing at such a fast pace, to the point that it will require forefront innovation to deal with it later on.
- Researches have shown that 2.5 quintillion bytes (2.3 Trillion Gigabytes) of data are created every day, which will amount to 40 zettabytes (43 Trillion Gigabytes) by 2020. Cloud computing, Internet of Things and Artificial Intelligence will facilitate the valuable management of Big Data, and this, in turn, can potentially lead to previously unexplored business and career opportunities. Moreover, the enhancements in big data management could also result in the development of effective anti-poverty strategies and improved security systems.
- As databases are growing at this exponential rate, it becomes necessary to adopt strategies which can efficiently process the data. This is where cloud computing comes into play. Basically, it is a virtual space where loads of data storage process. Typical examples of cloud computing are Gmail, YouTube, Facebook, etc. There are some firms which cannot benefit from big data as their servers are not efficient enough to process such a huge quantity of data. Cloud computing gives access of supercomputers to small firms which cannot afford the advanced data processing tools. In this way, cloud computing gives access to efficient and cost-effective servers, making it easier to handle big data without having the fear of losing it to less efficient servers.
- The Internet of Things (IoT) is another important player in managing big data. IoT refers to the interconnection between different objects by embedding microchips in them to send and receive information. This will enhance connectivity all over the globe by using information effectively from a large pool of data. As more and more devices are connected to the Internet of Things every day, the databases will continue to grow at an explosive rate. This gives us an idea that IoT not only serves as a conduit for information connectivity but also in helping to build databases. A study has shown that the Internet of Things will lead to effective data management technologies which will help organizations improve their infrastructures.
- Although Artificial Intelligence and big data seem like two different things, they actually complement each other. Artificial Intelligence can evaluate and interpret data, giving possible solutions to any problems based on those interpretations. Artificial Intelligence (AI) is constantly improving itself to adapt to changes in the modern world of technology. AI can help find specific patterns from a big pool of data that might go unnoticed that may have otherwise resulted in misinterpretation. At the same time, big data helps AI reach its full potential.
- As this ocean of data keeps expanding at such a high speed, it is also creating business and job opportunities for people all around the globe. It can be safely predicted that the employment options for people in the field of data handling, will definitely increase in the future. There are several big data jobs to look forward to if one has the right skills like Machine Learning, Data Mining, Statistical and Quantitative Analysis and many others. One of the most prominent and important skills is Data Mining, which includes exploring different sites, database and organizations. Similarly, all other skills are required to hold the huge databases. This indicates that there is a huge demand for ‘Data Scientists,’ and that this demand is imperative. So, big data could eradicate unemployment and bring stability to the global economy.
- Big data will help transform poverty-stricken regions and improve the living standard of people all over the globe. This will happen when non-profit organizations are able to take data from developing countries and decide which areas can benefit the most from access to better education and health services. Big data will not only destroy poverty but it will also help developing countries fight corruption because of the access to the data which will improve accountability.
- Safety has always been a concern for this expanding technology. Big data will help to solve criminal cases and might become powerful enough to stop crime from even happening. The information that criminals share through their electronic devices means that agencies can create a pattern out of that information and help minimize the crime rate in their vicinity. Although there are some difficulties and risks attached to big data, it will guarantee a future for technical advancements because of its ability to create new jobs by increasing demand of data scientists, reducing poverty, improving security systems and enhancing cloud computing and Artificial Intelligence.