World Wide Web has completely changed the dynamics and conventional meaning of operating and managing a business. It has opened new avenues through seamless interaction between consumers and business houses. In the process it has flooded The World Wide Web with unimaginable volumes of data, for instance according to an estimate the average volume of data created in a single day is easily around 2.5 quintillion bytes.

1. What is Big Data? - Business Plans
World Wide Web has completely changed the dynamics and
conventional meaning of operating and managing a business. It
has opened new avenues through seamless interaction between
consumers and business houses. In the process it has flooded
The World Wide Web with unimaginable volumes of data, for
instance according to an estimate the average volume of data
created in a single day is easily around 2.5 quintillion bytes.
At the same time the variety of this volume can vary from social
media post (which includes digital pictures and videos) to
purchase transaction records or the GPS signal received by
mobile phone to sensors used to get climate information. The
collective name of all of such data is termed as Big Data. Big data
in its raw form appears to be jumbled up pieces of data and
information and can be deemed valueless but in the right hands
equipped with proper tools and knowledge to assemble, scrutinize
and then analyze these ‘white horses’ it can give any business
that extra edge over the competition to draw the line between
success and failure.
The term Big Data analytics means collective procedure of
accumulating, consolidating and evaluating enormous quantity of
data. This process leads to discovery and extraction of patterns
and useful insights.Big data analysts are in constant pursuit of
knowledge and contribute to great degree towards identification

2. of relevant information for the future business scenario.
In modern context data is a phenomenon in itself, just like water
it can be seen as dew in one form and as ocean in another form.
It can be so versatile and varied in the same moment and can be
studied with endless permutations and combinations. Since the
process of data collection and storage differs from platform to
platform within the same organization therefore making it
accessible and research ready requires specialized skills and tools
where traditional databank and tools fail completely.
Big Data Analytics Benefits
In the time of cut throat competition enterprises are leaving no
stone unturned to gain the competitive edge over their rivals. A
timely and thorough insight which responds to specific business
queries makes big data projects all the more essential.
A survey has revealed that major allocation of big data analytics
tools are employed to develop customer retaining and product
development.
Around 62 per cent of participants confirmed use of big data
analytics in business houses to increase swiftness and lessen the
intricacy.

3. Variety
The term denotes varied sources and forms of data which
includes structured as well as unstructured data.
Velocity
The flow of data from various sources which result from
interaction of humans and business processes is continuous and
colossal and big data velocity talks about this rapid pace.
Verasity
The concerned data collected and being analyzed for the specific
problems of business is always surrounded with prejudices, noise
and irregularity and big data veracity deals with same.
Validity
Whether the data being studied and analyzed is relevant or not is
the concern of big data validity.
Volatility
The relevance of stored data as per the time perspective is
determined by big data volatility and decides at what point the
information becomes irrelevant.
Volume
The data which was previously created by employees is now
generated by interaction of human and machines therefore
creating colossal data which requires analyses.

4. Ratan Tata and Big Data Analytics
The retired chairman of Tata Sons, Ratan Tata is amongst the
first one to understand the benefits of Big Data Analytics and has
funded an unspecified amount of money in start-up company
Infinite Analytics which deals in big data analytics. Founder of
Sixth Sense Ventures, Nikhil Vora also participated in the same.
The country has witnessed positive entrepreneurship boom and
Mr. Tata has pioneered the backing up of young companies along
with other corporate leaders. Mr. Tata, who spearheaded Tata
Group for 20 years, has funded in more than a dozen start-ups in
past one year like Snapdeal, Ola, Xiaomi and Ola to name a few.
Infinite Analytics was founded three years ago by two classmates
who studied together at the Institute of Technology,
Massachusetts, Mr. Bhatia and Mr. Purushotam Botla. Mentored
under Tim Berners-Lee the inventor of World Wide Web they both
transformed their classroom assignment into a big data analytics
start up. The company has elite customer base like AirBnB a
home sharing firm, eBay an ecommerce giant and Croma Retail.
Infinite helps them to mine, analyze, identify patterns and form
unknown relationships from massive amount of information and
data

5. “It’s a dream come true to have Mr. Tata back us. We have
grown up admiring and respecting Mr. Tata’s business acumen
and this is a great opportunity for us to learn from him directly”
as per recorded statement of Akash Bhatia, chief executive at
Infinite. “His guidance (Mr. Tata) and vision will definitely help us
grow Infinite into an analytics powerhouse”.
Analytics is not a new term or process and has been around since
1950’s. Big data analytics has been also around for some time
now but is still in development stage as the sector is still
unstructured with presence of many challenges, one of the major
challenges being getting the data ready for analysis. But surely
and steadily big data analysis is on its way to become the next
big thing in future and will be integral part of each and every
business process. It will equip the business houses with relevant
information to take better and quicker decisions and create better
customer service with higher rate of satisfaction.
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about what is Big Data?