Big Data & ERP

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Understanding Big Data: Scope, Concepts, and Technologies:

Big Data means a large collection of data, which is still growing very fast with time. This means the data is so large and so complex that traditional data tools cannot process it or store it effectively. The short explanation is that big data is data of a very large size. Normally, big data refers to large data sets that are analyzed by computers to show outlines and relations (1). Currently, a large proportion of information technology acquisitions go toward storing and managing big data. The key concepts related to big data are that it is data of higher variety, being received at exponentially growing volumes and with higher velocity. Variety, volume, and velocity are called the three Vs of big data. Over a period two more Vs have emerged. These are value and veracity. Big data has value because it has become capital, some of the largest tech companies have big data that has value. Moreover, the data that is stored, analyzed, and used has to be correct (2).

In a broad sense, data technologies means the applications that are used to analyze data and convert them into business information. Big-data technology means software designed to process, analyze, and get information from big data. Traditional data processing software cannot usually process big data (3). From a different perspective, big data software is associated with other information technologies such as machine learning, artificial intelligence, the Internet of Things, and deep learning. In a normal sense, big data technology means applications that handle and analyze large volumes of real-time data. One type of big data technology is operational big data technology. This technology is used to day to day operations such as online ticket booking, data from an organization that is analyzed to make decisions, and social media platforms. Some examples of operational big data technologies are employees' personnel information in the organization, data available on Facebook, and Twitter. It also included online trading in foreign exchange or on stock exchanges. Another type of big data technology is analytical big data technology. Examples of analytical big data technologies ...