Management Theory Review: What is Big Data and What are its Applications?

June 28, 2014

What is Big Data and What are its Applications? - IBM Experts Explanation

What is Big Data - IBM Explanation

What is big data?

Every day, we create 2.5 quintillion bytes of data. This data comes from everywhere: sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals to name a few. This data is big data.

Big data spans three dimensions: Volume, Velocity and Variety.

Volume: Enterprises are awash with ever-growing data of all types, easily amassing terabytes—even petabytes—of information.

12 terabytes of Tweets are created each day. You can turn this big data into improved product sentiment analysis.
Convert 350 billion annual meter readings to better predict power consumption

Velocity: Sometimes 2 minutes is too late. For time-sensitive processes such as catching fraud like rejecting a credit car transaction, big data must be used as it streams into your enterprise in order to maximize its value.
Scrutinize 5 million trade events created each day to identify potential fraud
Analyze 500 million daily call detail records in real-time to predict customer churn faster

Variety: Big data is any type of data - structured and unstructured data such as text, sensor data, audio, video, click streams, log files and more. New insights are found when analyzing these data types together.

Monitor 100’s of live video feeds from surveillance cameras to target points of interest
Exploit the 80% data growth in images, video and documents to improve customer satisfaction
http://www-01.ibm.com/software/in/data/bigdata/

Big Data Technology Provides Insights

Big data is more than simply a matter of size; it is an opportunity to find insights in new and emerging types of data and content, to make your business more agile, and to answer questions that were previously considered beyond your reach. Until now, there was no practical way to harvest this opportunity.

Today, IBM’s platform for big data uses state of the art technologies including patented advanced analytics to open the door to a world of possibilities.

Video Presentations on Big Data

What is big data? Part 1

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The photo taken from a smart phone posted by a user on twitter account has lot of data associated with the photo.

What is big data? part 2

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Big Data Applications

Use Cases

What is a use case?

A use case helps you solve a specific business challenge by using patterns or examples of technology solutions. Your use case, customized for your unique issue, provides answers to your business problem.

Five game changing high value use cases of Big Data
Big Data Exploration - Enhanced 360 degree view of the customer - Security Intelligence Extension
Operations Analysis - Data Warehouse Modernization
http://www-01.ibm.com/software/data/bigdata/use-cases.html

Watch a combined presentation on the benefits of five use cases and then individual presentations on each use case.

Game Changing with Big Data - Five Use Cases that promise tangible benefits to your organization
2013 Presentation
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Big Data Use Case #1 - Exploration
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Big Data Use Case #2 - Enhanced 360 degree view of the customer
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Big Data Use Case #3 - Operations Analysis
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Big Data Use Case #4 - Security and Intelligence Extension
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Big Data Use Case #5- Data Warehouse Augmentation
2013 Video
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