Every now and then when we think the dust rose due to the stampeding by the excited marketers searching for Holy Grail is finally settling down and new innovation starts making sense, somebody introduces a new terminology and the rush begins all over again. This has happened one more time with something called “Big Data”, which has an implication for social media as well. So it is but natural that I should tackle this issue and help you see the real picture behind this new buzz word, and in turn help you make use of it in your business.
What is big data?
As Wikipedia puts it, “Big data is an all-encompassing term for any collection of data sets so large and complex that it becomes difficult to process them using traditional data processing applications.”
Big data refers to massive volume of structured and unstructured data which is expanding on three sides as shown in the image below.
