Big data is all about the storage, processing and analysis of enormous amounts of data using special hardware and software. In the corporate context in particular, this creates numerous opportunities to optimize existing processes, tap into undiscovered market potential and adopt a more target-group-oriented approach. Big data will unquestionably remain one of the key topics of the 21st century – a fact made clear by the following Statista forecast: While the amount of data generated worldwide in 2018 was still 33 zettabytes (1,000,000,000,000,000,000 bytes), experts forecast an increase to 175 zettabytes(1) by the year 2025.
Brunel gives you the right experts for your next big data project
Would you like to benefit from the potential of big data? Are you still looking for the right experts? Rest assured: With Brunel, your big data project is in the best hands. Our experts have an in-depth knowledge of computer science, mathematics, physics and statistics. They are also experienced in data analytics and advanced analytical methods such as data mining, predictive analytics and machine learning. Furthermore, our experts are familiar with programming environments close to data science such as R, Python or Matlab and are experienced in dealing with databases. At its Hildesheim office, Brunel’s Predictive Maintenance competence center devotes itself to anomaly detection in mass data. Go here for an overview of our entire service portfolio.
Table of contents
What five characteristics best describe big data?
Why is big data more relevant than ever for companies today?
How can companies successfully introduce the use of big data?
In what areas of business is big data used?
What competitive advantages can be achieved?
What challenges does the use of big data pose?
What new job profiles is big data creating?
How Brunel can support you in your next big data project
Social networks, mobile devices, the Internet of Things: Data is generated from an incredibly broad spectrum of sources, and the volume of data is unimaginably large. Facebook generates 50,000 clicks per second, while YouTube registers 72 hours of new video material per minute. In other words, 2.5 trillion bytes are generated worldwide every day. Data that used to be considered unusable can nowadays yield numerous competitive advantages – reason enough to take a closer look at big data.
What five characteristics best describe big data?
Volume: This refers to the enormous amount of data that is a distinguishing feature of big data. Almost every transaction, be it in the commercial or private realm, generates data – from bank transfers to development and production processes. The world's largest data producer is the manufacturing industry, which accounts for around 3.6 zettabytes (2).
Velocity: Today, data is not only collected but must also be processed at a comparatively high speed. This creates a need for technical solutions for real-time processing, such as operating systems, sensors and smart metering. The velocity of data dissemination has also increased considerably in recent years.
Variety: Data is available in different formats, with distinctions drawn between structured, semi-structured and unstructured data. Whereas structured data can be represented in relational databases in the form of rows and columns, unstructured data is available as images, text files, animations and even audio sequences in the form of numeric codes. The latter make up almost 80 percent of all data in companies. Big data and machine learning can be used to analyze and further utilize this data.
Veracity (truthfulness of data quality): High-quality data is a prerequisite for reaping the benefits of big data. Only if it can be ensured that the data is authentic, complete and unambiguous can big data be of real benefit to companies.
Value: The fifth characteristic of big data is its value to businesses. Valuable information about processes or customers can be collected or predicted and can be a real asset to business strategy.