To Oversimplify Big Data is large amount of data and deals with its collection, processing, analyzing and generating information rich and intelligence which can be acted upon.
Let’s understand it with the working of our brain. What our brain does? It gathers large data from various sources, processes it, and then generates intelligence, based on which an action is taken.
Let’s understand it with a simple example. Suppose you want to purchase a mobile but you are facing budget constraint. So what will you do?
You start (more specifically your brain):
- Collecting data and also refer data collected previously regarding mobile.
- Contacting your known persons who have recently purchased mobile and ask them for advice on purchasing the mobile handset.
- Then you suddenly re-collect that someone was talking about the discounts being offered by the companies on mobile.
- You also re-collect that recently you have received an email from your bank offering personal loan at discounted interest rates.
- Or may be you recollect about a gift voucher of online website gifted by one of your acquaintances.
Your brain processes this data from various sources and analyse this data about the mobile handset and then generates the information / intelligence about which mobile handset to buy, from where to buy considering the applicability of available gift voucher on online website and also considering upcoming discount on mobiles, and what will be the source of your funding considering the availability of low interest rate personal loan.
Thus you go for most optimal buying proposition in the above exercise.
This is a very simple example of Big Data. It has a lot more to do and will be discussed in later posts on Big Data.
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