What is Big Data
Worldwide, about 2.5 quintillion bytes of data is created every 24 hours. This includes a massive volume of both structured and unstructured data from post to social media sites, digital pictures and videos, internet chatter, device-derived data, cell phone GPS signals, purchase transactional records, and many more.
A fairly new buzzword, “Big Data” also referred to as "Enterprise Big Data or Big Data Analytics" generally describes large sets of key information that present many businesses with major management challenges. The nearly overwhelming volumes of Big Data makes it difficult for IT managers to capture, store and analyze it. The volumes are often too large to process via traditional IT infrastructures, The typical dataset that falls into this category exceeds 30 petabytes, which are units of information that exceed one quadrillion bits of data.
Big Data is not limited to size; it is an avenue to have an idea about new and emerging types of data and content, to make your business more agile, and to provide solutions that were previously considered beyond your reach.
Big Data can be classified into the "Three Vs": Volume, Variety, Velocity and Veracity. The excessive volumes create storage issues. The variety of data formats, both structured and unstructured, make it challenging to sort and process data. The velocity, or the speed at which data is received and transforms, is yet another IT management challenge.
Volume: Enterprises are worried with ever-growing data of all types, easily accumulating terabytes, even petabytes of information.
- Turn 12 terabytes of posts created each day into improved product sentiment analysis
- Convert 350 billion annual meter readings to better predict power consumption.
Variety: Big Data spreads across different types of data, such as sensor data, text, audio, video, click streams, log files, and more. New ideas are discovered when analysing these types of data.
- Utilize the 80% data growth in images, video and documents to improve customer satisfaction
- Monitor 100’s of live video feeds from surveillance cameras to target points of interest
Velocity: For time-sensitive processes such as detecting fraud, Big Data must be used as it streams into your enterprise in order to maximize its value.
- Analyze 500 million daily call detail records in real-time to predict customer need faster
- Monitor 5 million trade events created each day to detect potential fraud
Veracity: Here, ratios of 1:3 business heads don’t trust the information they utilize to make critical decisions. How can you act upon information if you don’t trust it? Creating trust in big data shows a huge challenge as the types and number of sources grows.
Big Data is a hot topic today in the market because it is a major challenge for enterprises across all industries. It is now possible to analyze all available data and gain meaningful ideas. Many customers are getting good ROI using unique enterprise solutions provided by SSL to tackle their Big Data challenges.
With the recent focus on Big Data, SSL in partnership with leading solutions and technology companies provides new enterprise solutions which help tackle the massive growth of structured and unstructured information, and also helped to answer questions business heads asks: What does this mean for the future of traditional database technologies? How do we prepare for it? How might it affect our ROI on business?
Why Soft Solutions Limited?
Soft Solutions Limited (SSL) founded in 1994, has emerged as one of the leading IT solutions and consulting companies in Nigeria. SSL help customers address enterprise challenges by providing comprehensive solutions that combines innovative models and technologies with passion to solve business problems.
We deliver technology solutions that are cost effective, easy to use and adaptive to enable next level growth. Our solutions provide the platform for an agile ICT environment that drives an organization towards set objectives. They instantly transform any organization and deliver visible return on Investment. At SSL, we are pragmatic consultants who bring an implementation perspective to all our work. We realize that elegant solutions are meaningless unless they can be translated into sustainable business value. Call us today!