Introduction to Business Analytics

Objective…

How to manage very large amounts of data and extract

value and knowledge from them

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 "Big Data"??
 Different definitions

“Big data exceeds the reach of commonly used hardware environments and software
tools to capture, manage, and process it with in a tolerable elapsed time for its user
population.” -Teradata Magazine article, 2011

“Big data refers to data sets whose size is beyond the ability of typical database software
tools to capture, store, manage and analyze.” -The McKinsey Global Institute, 2012

“Big data is a collection of data sets so large and complex that it becomes difficult to
process using on-hand database management tools.” - Wikipedia, 2014

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When data becomes BIG ??????
Stages in the Evolution of Big Data
 Who’s Generating Big Data

Mobile devices
(tracking all objects all the time)

Social media and networks Scientific instruments

(all of us are generating data) (collecting all sorts of data)

Sensor technology and networks

(measuring all kinds of data)

• The progress and innovation is no longer hindered by the ability to collect data
• But, by the ability to manage, analyze, summarize, visualize, and discover
knowledge from the collected data in a timely manner and in a scalable fashion
 Challenges in Handling Big Data

• The Bottleneck is in technology

– New architecture, algorithms, techniques are needed
• Also in technical skills
– Experts in using the new technology and dealing with
big data
Algorithms