Dec 12, 2012 Walt Wojciechowski
IBM estimates that each day, human beings produce 2.5 quintillion bytes of data, much of which is unsorted, unaligned and unanalyzed. Big data comes from a variety of sources, some of which are media and content produced for the internet, debt collection data, security cameras, weather sensors, cell phones, medical imaging and GPS signals. With current technologies such as cloud computing and an increase in the size of remote data storage units, it seems that the world has caught up with the data it is producing. Big data isn't merely in need of archiving, as trends can be determined from what is revealed in this data. Previously, it has often been simply too massive to use efficiently. Business advantages
Companies who are able to sort, isolate and analyze these massive volumes of big data may have a leg up on competitors when it comes to predicting markets and analyzing consumer trends. Firms that invest in big data may have better and more reliable analytics of portfolios, allowing better tracking and planning of investments. Collectors might use big data to determine risks and some of what the data reveals could determine alternate credit scores. Amazon ups the game
On November 28, 2012, Amazon revealed that it will be piloting a new big data storage operation called Redline, promising consumers affordability, ease of access and massive amounts of storage. The firm has been a leading entity when it comes to innovations in cloud computing, and this latest move may place this product at the forefront of big data storage. Lenders might seek out storage options for big data, if underwriting projects may include its use.