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Advantages of Big Data | Disadvantages of Big Data

This page covers advantages and disadvantages of Big Data. It mentions Big Data advantages or benefits and Big Data disadvantages or drawbacks.

What is Big Data?

Introduction:
• "Big data" is similar to small data but bigger. The word "Big" in big data not just refers to data volume alone. It also refers fast rate of data origination, its complex format and its origination from variety of sources. The same has been depicted in the figure-1 by three V's i.e. Volume, Velocity and Variety.
• As per Gartner Big data is defined as follows: "Big Data is high volume, high velocity and/or high variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation".
• Big data is different than "Business Intelligence" and "data mining" in terms of data volumens, number of transactions and number of data sources are very big and complex. Hence Big data require special methods and technologies in order to draw insight out of data.

Three V of Big Data

The three V's of Big data are as follows.
• Volume: Large amounts of data from datasets with sizes of terabytes to zettabytes.
• Velocity:Large amounts of data from transactions with high refresh rate resulting in data streams coming at very high speed. As a result time required to act on these data streams will often be very short.
• Variety: Data is originated from different data sources. The data source can be either internal or external. Data can be in various formats due to various transactions and logs collected from different applications. It can be structured data (e.g. database table), semi-structured data (e.g. XML data), unstructured data (e.g. text, images, video streams, audio etc.).

Example: The major big data landscapes are twitter, facebook and youtube. Moreover big data volume is increasing day by day due to creation of new websites, emails, registration of domains, tweets etc.

Benefits or advantages of Big Data

Following are the benefits or advantages of Big Data:
➨Big data analysis derives innovative solutions. Big data analysis helps in understanding and targeting customers. It helps in optimizing business processes.
➨It helps in improving science and research.
➨It improves healthcare and public health with availability of record of patients.
➨It helps in financial tradings, sports, polling, security/law enforcement etc.
➨Any one can access vast information via surveys and deliver anaswer of any query.
➨Every second additions are made.
➨One platform carry unlimited information.

Drawbacks or disadvantages of Big Data

Following are the drawbacks or disadvantages of Big Data:
➨Traditional storage can cost lot of money to store big data.
➨Lots of big data is unstructured.
➨Big data analysis violates principles of privacy.
➨It can be used for manipulation of customer records.
➨It may increase social stratification.
➨Big data analysis is not useful in short run. It needs to be analyzed for longer duration to leverage its benefits.
➨Big data analysis results are misleading sometimes.
➨Speedy updates in big data can mismatch real figures.

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