Big Data as the New Enabler in Business and other Intelligence
The term "Big Data" will always be remembered as the big buzzword of 2013. According to the Wikipedia, bigdata "is a collection of data sets so large and complex that it becomes difficult to process using on-hand databasemanagement tools." In other perceptions, the "3 V's" that characterize it (i.e., volume, velocity, and variety) orthe "4 V's" (adding veracity to the previous three) are responsible for the fact that it exceeds both anorganization's own data as well as its storage or compute capacity for accurate and timely decision-making. Inessence, big data refers to the situation that more and more aspects and artifacts of everyday life, be it personalor professional, are available in digital form, e.g., personal or company profiles, social-network and blogpostings, buying histories, health records, to name just a few, that increasingly more data gets dynamicallyproduced especially on the Internet and on the Web, and that nowadays the tools and techniques are available forevaluating and analyzing all that data in various combinations. Numerous companies already foresee theenormous business effects that analytical scenarios based on big data can have, and the impacts that it will hencehave on advertising, commerce, and business intelligence (BI). This paper reviews the issues, techniques, andapplications of big data, with an emphasis on future BI architectures.
Big Data, Business Intelligence, Business Analytics