What is Big Data, its importance, significance and implementation challenges?

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We all are living in a world that seems to be shifting rather dramatically with the technological advancements in every field. Businesses are more than ever conscious of the changing paradigm and want each and every insight related to their business and industry. They want these insights to help them improve customer experience by providing better service, product, relevant offers and everything in between that can give their business an unprecedented push.

Among everything that has the potential to give such a tremendous insight, Big Data is gaining quite the attention (if not exactly the popularity). However, some implemental challenges present themselves strongly to be overcome despite the evident importance of the collection and analysis of Big Data. 

Let’s understand the idea that is Big Data and its various relevant aspects.

What is Big Data?

Data in general is understood; Big Data is just the extension of that general idea, only much bigger in variety, volume, velocity (the 3V’s popularised by Doug Laney in 2000) in addition to complexity. Analysts also are concerned about the value and variability aspect of Big Data. Every kind of data has some intrinsic value but getting it decoded can be an issue, especially when we are talking about data in unprecedented volume; think in terms of Terabytes, Petabytes and Exabytes.

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