What is Big Data?
According to McKinsey, Big Data refers to datasets whose size are beyond the ability of typical database software tools to capture, store, manage and analyse. There is no explicit definition of how big a dataset should be in order to be considered Big Data. New technology has to be in place to manage this Big Data phenomenon. IDC defines Big Data technologies as a new generation of technologies and architectures designed to extract value economically from very large volumes of a wide variety of data by enabling high velocity capture, discovery and analysis.
According to O’Reilly, “Big data is data that exceeds the processing capacity of conventional database systems. The data is too big, moves too fast, or does not fit the structures of existing database architectures. To gain value from these data, there must be an alternative way to process it.”5