Big Data goes beyond the traditional limits of data along three dimensions: volume, variety and velocity. The combination of these three dimensions makes the data more complex to ingest, process and visualize.It’s the wide variety of available data that really piques their interest and leads them to insights that will be useful for C-level executives as well as IT managers. Petabytes of unstructured Internet data, primary research, secondary research, location data, image data and device data is all readily at hand -- and it’s vastly underutilized. "There’s a lot of money to be made for smart individuals and companies that can mine unstructured data successfully," the authors contend. "We are no longer limited to the structured transactional world that has been the domain of corporate information technology for the last 55 years." Even more interesting is the fact that because we have time and location data flooding in, "We won’t just be analyzing what we did, we'll be analyzing what is happening in the world around us, with all of the richness and detail of the original sensation."
Why the Future Belongs to Big Data
When it comes to buzzwords, Big Data is currently at the top of the technology heap. You may have your own definition, but Michael Minelli, Michele Chambers and Ambiga Dhiraj, the authors of Big Data, Big Analytics, describe it this way: