The volume of data that one has to deal has exploded to unimaginable levels in the past decade, and at the same time, the price of data storage has systematically reduced. Private companies and research institutions capture terabytes of data about their users’ interactions, business, social media, and also sensors from devices such as mobile phones and automobiles. The challenge of this era is to make sense of this sea of data.
Examples Of 'Big Data'
The New York Stock Exchange generates about one terabyte of new trade data per day.
Social Media Impact
Statistic shows that 500+terabytes of new data gets ingested into the databases of social media site Facebook, every day. This data is mainly generated in terms of photo and video uploads, message exchanges, putting comments etc.
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