Big Data : A Different Perspective (3Vs or 4Vs)
Hi, Welcome. I am Shailendra and today we are going to talk about Big Data •In recent times, Big Data has become a jargon… or should I say a big jargon!! Almost every organisation is talking about it… it is considered to be the next BIG thing. A lot of articles are being written about Big Data, a lot of conferences are being held, in other words, BigData is the most talked about phrase in the media, today. So, I asked myself what is BigData? And wikipedia tells us “big data is a collection of data sets so large and complex that it becomes awkward to work with using on-hand database management tools” and I will not end the definition of Bigdata without the mention of the famous words “Volume, Velocity and Variety”, which explains that Bigdata technology can handle large volumes of data, allow high speed of access having ability to manage large variety of data, including videos and pictures.
One thing comes to my mind…. Wasn’t Bigdata always there? So why is there such a hype now? May be because now we have more data generated through social media and people want to use it. But then what about the other data elements like data coming out of the engine of our cars, project data, data coming out of the TV sets at our homes, etc. When I started investigating Bigdata, I found out that the Bigdata conversation is mostly driven by some hardware and software companies. In a way, these companies are saying “We have created hardware and software which can hold really large volumes of data in an efficient manner and will give you quick access to the data.”
So, I ask a question to all the CIOs, CEOs and CMOs:
“If you get access to all the data in the world what will you do with it? What will be the first business problem you will solve?”
I agree that the Bigdata provides us the ability to analyse data coming from new data sources like social media and other unstructured data sources like machinery data, engine data, etc. but I think before going there we should ask ourselves what will we do with all that data? I remember in 90s there was a great talk about datawarehousing and every company had a roadmap to deliver datawarehouse in their organisations. Organisations spent millions and millions of dollars on datawarehouses and I bet you will have one in your organisation. The Big Question is “How are we harvesting the data in our datawarehouses and what benefit are we driving out of the already existing ocean of data in our organisation?
I don’t think we have yet figured out the value that can be achieved through the BigData, there is no one superstar problem that is solved using Bigdata. Once we have a superstar problem solved, then the Bigdata conversation will be relevant and will be driven even faster.
To conclude, I don’t think it is only about Volume, Velocity and Variety but it is mostly Value that should drive BigData and this 4th V is and will be the key to the success of Bigdata story.