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Big Data is the latest disruptive technology buzzword that has created a lot of hype lately. The name itself creates a lot of confusion. Big data is not necessarily about a big dataset but rather it redefines what all data could be used for Business Intelligence. Previously firms used to consider data within its operational datasets and analyze it considering it to be a goldmine. Big Data suggests taking into consideration external data sources as well which were previously considered not so relevant. The key myths that have created confusion among the “Big data” enthusiasts include:
Ø Big Data is Big
Big data as already discussed is not necessarily about the size of the dataset but about considering external data as well and new computing business models. Its about re-examining what data really means to you, consider sources that you never considered relevant before and create systems that generate valuable data that is required by your business users.
Ø Big Data is about Unstructured Data
This is not true. It could be multi structured since data comes in multiple forms.
Ø Big Data works only with Hadoop
Though Hadoop is an open-source Apache software which works great with Big data but it is not mandatory to use Hadoop while utilizing your data to produce valuable business insights.
Ø Big Data is too complex
A dataset is never too complex if it is analyzed properly to distill into business insights. Big data provides the right solution for firms so that they end up focusing more on analytics than the size of the data. The idea is to take into consideration the right data sources and funnel it through the perfect analytics engine and deliver it to departments and business users who most require it at the right time.
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