What is Big Data?
Big data refers to a process that is used when traditional data mining and handling techniques cannot uncover the insights and meaning of the underlying data. Data that is unstructured or time sensitive or simply very large cannot be processed by relational database engines. This type of data requires a different processing approach called big data, which uses massive parallelism on readily-available hardware. The ability to process and extract useful information from this data is extremely beneficial allowing predictions to be made enabling organisations to continuously stay competitive.
So what are the big data problems we are trying to solve?
Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions
Predictive analytics is the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics does not tell you what will happen in the future…
Data warehousing emphasizes the capture of data from diverse sources for useful analysis and access, but does not generally start from the point-of-view of the end user who may need access to specialized, sometimes local databases. …
Data integration involves combining data from several disparate sources, which are stored using various technologies and provide a unified view of the data. Data integration becomes increasingly important in cases of merging systems of two companies or consolidating applications within one company…
Master Data Management
Master data management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file, that provides a common point of reference. When properly done, MDM streamlines data sharing among personnel and departments…
Data Mining is the process of analyzing data from different perspectives and summarizing it into useful information – information that can be used to increase revenue, cuts costs, or both. Data mining software is one of a number of analytical tools for analyzing data.