Big Data, surely everyone knows all that it is about, but do you know that the future revolves all around making this big data, smaller? While there may be a lot many people stating that big data is the next big thing, but those people tend to oversee the fact that everything related to big data, is entirely machine based and you would most likely require the human eye, to look at the big picture as it gradually forms. While it is no news, that the importance, evolution, analyzing and collection of everything related to big data, depends on its tools, which are commonly known as data analytics tools. These tools are basically used by Data Scientists or Data Analysts, to make smarter strategic decisions, to reduce costs, to target the right kind of audience, to optimize offerings and on the whole, in order to ensure that your business runs as efficiently as possible. Studies show that by the year 2019, the value of the data analytics industry is bound to reach about $187 billion. Its reason enough to become a part of this industry as early as you can.
Let’s start with the basics here, big data is basically a term, used to refer to the enormous amount of structured as well as raw data, which is generated by a number of businesses today. This data refers to every kind of online record of information, now that could be anything related to social media, or a machine to machine relation. The basic concept is, to be able to deal with all of this data, floating all around you in the virtual world, for which, one would need to develop certain technologies, which would help in analyzing the data, thereby resulting into various decisions that would prove beneficial to the growth and development of various companies.
In the recent times, the concept of big data has come to be the center of attention of the world of technology. There are many who believe that just storage of massive amounts of data would be able to get their work done. This is not really the case, as big amounts of data does not necessarily mean that the data would be useful. The most important point here is, how a business or a firm is able to analyze this data, while at the same time be able to draw practical conclusions from the same, in order to bettering their chances of success. Big Data being a very new concept, many companies have chosen to prioritize over the quantity of data, as opposed to the quality of it. The general idea of this field is so generic, that it becomes quite difficult for various companies to figure out which data should be analyzed, or how to conduct the analysis, or for that matter what attributes it must have. On the other hand, small data is rapidly gaining more importance, mainly because of its very specific attributes, which make it possible to analyze large sets of data. In other words, small data is able to bring about timely and more meaningful insights in shorter amounts of time, which is why more and more data scientists are rooting for it. This is also the reason institutes like Imarticus Learning have become popular, as they offer industry relevant training courses, in various data analytics tools like Hadoop, SAS, R and so on.