The data used to be structured in a tabular format. Now, the data is exponentially growing as every individual wants to stay connected and share things they care about.
Today, the internet contains more unstructured data than structured data. In the next decade, it will become even more ubiquitous because of the Internet of Things, self-driving cars, artificial intelligence, online banking, online shopping, etc.The amount of structured data is about 20%, while the amount of unstructured data is about 80%.
On the internet, almost every action generates data. For instance, when a user browses social media, data is produced. Liking a post, performing a Google search, sending a message, taking a cab-these all generate data.
To grow and scale, and to become more customer-focused, all modern businesses use data.
Big Data applications are not just a thing of the future – they are here now.
Gartner defines Big Data as: high-volume, high-speed, containing a huge array of information assets, requiring cost-effective and innovative forms of processing, improving decision making in organizations.
We are now seeing a new generation of big data companies utilizing emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML) to move beyond the conventional tools of management. Let us understand why they are doing so.