Big Data has been buzzing for some time now. Many organizations are formulating their approach to managing Big Data and aligning it with their strategic objectives. Lets first take a look of what Big Data is; Big Data refers to data that has grown so big it is difficult to manage.
Big Data spans four dimensions Volume, Velocity, Variety, and Veracity.
- Volume: The proliferation of all types of data expanding many terabytes of information.
- Velocity: The ability to process data quickly.
- Variety: Refers to the different types of data (structured and unstructured data such as text, sensor data, audio, video, click streams, log files, etc.)
See what IBM is saying about Big Data.
Knowledge Management has the ability to integrate and leverage information from multiple perspectives. Big Data is uniquely positioned to take advantage of KM processes and procedures. These processes and procedures enables KM to provide a rich structure to enable decisions to be made on a multitude and variety of data. In the KM World March 2012 issue it was pointed out that “organizations do not make decisions just based on one factor, such as revenue, employee salaries or interest rates for commercial loans. The total picture is what should drive decisions”. KM enables organizations to take the total picture Big Data provides, and along with leveraging tools that provide processing speed to break up the data into subsets for analysis will empower organizations to make decisions on the vast amout and variety of data and information being provided.
What is your experience with Big Data? Are you like most of us determining what Big Data really means to me and my organization? If these and other questions are on your mind concerning Big Data I want to hear from you!