What is Big Data?
Big data is a popular term used to describe the exponential growth and availability of data which is in structured and unstructured form. Big data may be as important to business and society as the Internet has become.
Industry analyst Douglas Laney articulated the now mainstream definition of big data as the three Vs of big data i.e.
Volume:
- 1. Unstructured data streaming in from social media.
- 2. Increasing amounts of sensor and machine-to-machine data being collected.
In the past, excessive data volume was a storage issue. But with decreasing storage costs, other issues emerge, including how to determine relevance within large amount of data volumes and how to use analytics to create value from relevant data.
Velocity:
Data is streaming in at unprecedented speed and must be dealt with in a timely manner. Radio Frequency Identification tags, sensors and smart metering are driving the need to deal with torrents of data in near-real time.
Variety:
Data today comes in all types of formats. Structured, numeric data in traditional databases like SQL, RDBMS and ORDBMS. Information created from line-of-business applications, unstructured documents like email, video, audio and financial transactions. Managing, merging and governing different varieties of data is something many organizations still grapple with.
The Evolution of Big Data, and Where We’re Headed ?
1. Big data is an umbrella term. It encompasses everything from digital data to health data to the data collected from years and years of paperwork issued and filed by the government which is the official cover.
2. As of yet, you won’t find an easy Wikipedia page explanation for any of these ideas. Instead, you’ll see them thrown out on Twitter, within the copy on start-up websites and debated by executives - many of whom have yet to fully understand who needs big data, what kind, when and why.
3. Few fully understand what big data is, much less what the term’s offshoots entail. But big data is evolving and smart data, identity data and people data are here to stay. Think of them as the human discovery of fire, the wheel and wheat. Just as those inventions couldn't have occurred without humans, these subset terms couldn't exist without big data.
Of course, the human race wouldn't be where it is today without those three key finds, and these data segments will prove to do the same for big data, making it comprehensible for the masses.
Are these definitions all-inclusive? No, but they will help you to wrap your head around the terms that will influence digital media careers and online experiences for years to come.
How IBM is Partnering to Prepare Students for Big Data Careers?
Rapidly taking over the academic scene, IBM has been forging partnerships with more than 1,000 universities across the globe to advance its mission to narrow the data scientists skills gap. There's not enough talent in the industry, that is why IBM is trying to help increase interest in a trade where the amount of new jobs far outweigh the number of scientists and engineers who have the academic expertise to excel at them today.
With the Big Data market expected to grow to $28.5 million by the end of 2014 and to far exceed $50 billion by 2017, it's time to get students up to speed.
Among the universities IBM has partnered with Johns Hopkins – more specifically the school's Center for Advanced Governmental Studies. The institution is offering a Master of Science in Government Analytics and a Certificate in Government Analytics to “provide students with the needed skills to address contemporary political, policy and governance challenges.”
Other local schools IBM is working with include the University of Maryland and University of Virginia.
IBM has expanded its reach internationally as well, focusing most of its energy on a major collaboration with China's education facilities that will be "addressing the Big Data and Analytics skills opportunity” in China. IBM will be in charge of aiding in the launch of undergraduate and graduate programs in 30 universities to prepare students for data scientist and chief data officer opportunities.
The IBM academic initiative is all about building talent for a smarter planet by teaching students market-ready skills.
Big data and analytics is the answer to uncover insight and improve decision making.
About Big Data and the impact on corporations.
“Over time, we believe big data may well become a new type of corporate asset that will cut across business units and function much as a powerful brand does, representing a key basis for competition. If that’s right, companies need to start thinking in earnest about whether they are organized to exploit big data’s potential and to manage the threats it can pose. Success will demand not only new skills but also new perspectives on how the era of big data could evolve—the widening circle of management practices it may affect and the foundation it represents for new, potentially disruptive business models.”
by McKinsey
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