Big data refers to the large amount of data that is collected by the organizations from different sources by using different methods and strategies. The use of big data is prevalent in the organizations from a long period of time. However with the improvement in technology, the form of data has been diversified and changed. Previously the data that is recorded by the organizations were in the forms of their transactions and the dealings with the internal and the external users. This led to the increase in the piling up of data that created the need for warehousing of this data. This data was accessible on the discretion of the company for their benefits, but the only issue associated with this form of data was that it presented the historical information.
On the other hand, the data that is being collected and used today is an electronic form of data, which is usually stored by the companies on hard disks on storage devices. The core feature of this form of big data is that it allows the companies to access the data in real time and can help to facilitate the decision making process in the organization. However, most of the experts have critically reviewed the management of the big data and a mixed response from all of these experts have been realised. The majority of the experts consider that the management of big data is indeed an important element these days that promotes the interests of the organizations in various forms. On the other hand some of the authors have critical views over this concept and have analysed the barriers that reduces the impact of the big data within the organizations. The core issue that has been figured out is in relation to the security and the privacy of the data that is collected by an organization. When information is fetched from a source, it becomes the duty to safeguard that information to avoid any future problems.
Despite having a critical view over the big data, the authors have also provided that if the big data is successfully managed while dealing with all the associated issues, then definitely the big data can help to identify different hidden opportunities that could ultimately improve the overall performance of the organization. Some of the major areas where the big data could be beneficial include advertising, product development, data analytics, identification of business requirements, etc. The overall use of the big data in the organization has different benefits associated with it that could ultimately align the efforts of the organizations in the appropriate direction. Most of the technology based companies are working to develop a number of applications that can help the companies to manage the big data lying with these companies in regard to the consumers, sales, competitiveness, etc. However, overall it seems that it holds an utmost importance to safeguard the interests of all the stakeholders and manage this big data in an effective and efficient manner.
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