What is Big Data-A Super Easy Guide to Understand Big Data. Today’s world top economist declared that the world most powerful resource is no longer oil the focus is shifted to Data. That is created by more than four billion smartphones in the world. We are using the internet while walking, traveling and even eating. This creates a digital footprint of each physical activity we are doing. In 2017 some figures stated that we created so much data in the year that was more than the data created by last five thousand years. We are drowning in the information while starving for wisdom. So now if the greatest resource is data then the greatest skill is the focus and paying attention.
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Big data basically is a lot of data that cannot be processed in a single go. Big data is a marketing term used for the implication of data that you cannot analyze at once because the amount of random access memory (RAM) it requires is far much greater than the available RAM. This means if you have to analyze this data you have to divide this into chunks of data. This creates models of the data that can be compared with other data.
What is Big Data-A Super Easy Guide to Understand Big Data
To understand the concept of big data consider that you want your add to appear before people who completed their graduation on a social media platform like Facebook. Now figure shows that more than 400,000,000 people are using Facebook having a graduation degree. Each of them has been served 100 ads. That makes it 40,000,000,000 events of interest. Each of these events contains several data points that are related to the ad. For example, what was the ad? Was there any picture? Who was targeted in the ad male or female? What were the colors used? All these details make more than one trillion of data pieces that need to sort through.
For this reason, this big data are segmented into chunks to simple it down. Then with the implication of the prediction model you have these chunks are filtered down. Big data is the revolution of this century almost all the social media platform are using it for targeted marketing. This shifts the paradigm from traditional advertisement to targeted having specific audiences.
“Big Data will spell the death of customer segmentation and force the marketer to understand each customer as an individual within 18 months or risk being left in the dust.” (Ginni Rometty, CEO, IBM)