Data Management

12:28 PM
Melanie Rodier
Melanie Rodier
Commentary
Connect Directly
Facebook
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

5 Things To Know About Big Data

Google searches for 'big data' have gone up 1200% in the last 12 months, according to sources. Here's big data 101.

Big data is to 2012 what the Cloud was in 2010. If you haven’t heard the term, you must still be using a dial-up modem. As a matter of fact, Google searches for ‘big data’ have gone up 1200% in the last 12 months, according to Andrew Sheppard at Fountainhead, a consulting firm specializing in HPC and GPU for financial services.

As we prepare our May issue on How Big Data Is Transforming Wall Street, here are the first five things I’ve gleaned that you have to know about big data:

1. Big data is broadly considered anything that is over 10 Gigabytes in size – or anything that doesn’t fit in Excel, I heard at the Hadoop in Finance conference earlier this week.

2. 90% of all the data on the planet was created in the last two years, according to IBM. In many cases, the analysis of data dwarfs the original data set.

3. Experts point to the boom in smartphones as the main reason behind the explosion in data. There are more than 5 billion mobile phones in use – almost one for every human on the planet – all recording your data.

4. But big data isn’t just about massive amounts of data. “It’s about new, unstructured data sources. […] It’s about performing data and compute together to perform better and faster analysis,” Jack Norris, VP, Marketing, at MapR Technologies, writes in a blog.

5. Apache Hadoop, the open source framework for running applications on large clusters of commodity hardware , was named after a toy elephant that belonged to the son of Doug Cutting, a former Yahoo engineer and the creator of Hadoop.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio
Comment  | 
Print  | 
More Insights
More Commentary
Single Source, Many Truths
If the data quality is not at fault, why then might departments reject the data? The answer is that there are two aspects to data quality: factual correctness and contextual correctness.
Predictions Come True as Regulators Swoop
While two out of the five capital markets predictions from July have already come true, let's hope that all five don't actually happen.
IBOR Before It Was "IBOR"
While its catchy new nomenclature and explosion in popularity has given the outside world an impression that it is novel, the same conversations about it were happening twenty years ago. So why then is IBOR the latest buzz word for firms today?
SEC Reforms: What Floating NAVs Mean for Money Market Funds & Accounting Software
Money market accounts are a $2.6 trillion industry that impacts nearly every investor who parks cash, so a new SEC rule has major ramifications for a large number of investors.
Flip Sides of the Same Coin: Compliance & Transparency
The upheaval caused by the 2008 financial crisis continues to ripple outward, creating an unsettled environment that has disrupted traditional measures of trust.
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - July 2014
In addition to regular audits, the SEC will start to scrutinize the cyber-security preparedness of market participants.
Video
5 Things to Look For Before Accepting Terms & Conditions
5 Things to Look For Before Accepting Terms & Conditions
Is your corporate data at risk? Before uploading sensitive information to cloud services be sure to review these terms.