Do you know how many e-mails are sent, videos are uploaded onto YouTube and tweets are sent out per day? All types of data is generated and sent around every millisecond and it is very important that we try our best to understand this data.
Many organisations strive to leave a very big digital footprint, but if they do not make sense of the fast paced data that is constantly generating and evolving, they will not benefit from the crucial insights that could be crucial to their success.
Most organisations use Big Data to analyse big amounts of data, such as social media data, to make data-formed decisions. We always hear the term “Big Data” being tossed around by everyone and that’s not going to change any time soon. With all the vast amounts of information that is being generated, large-scale analytics and visualisation is absolutely essential for companies. Big Data is also able to be speedily generated with the help of data generated by log aggregation, censoring data and other such types.
When you process Big Data in real-time to gain instant knowledge as soon as something happens, you are utilising Fast Data. Fast data can be useful in the following situations:
· A marketing agency may want to know if there is bad publicity going around about a client’s brand to prevent any negative information from becoming viral.
· Medical staff will need to be informed if there is an epidemic so that they can take immediate action to help people and prevent the spread of a disease.
There are so many various organisations that can benefit from Fast Data. It is essential for modern business to make use of Fast Data. In order to capture this data, you need a system that is capable of delivering events as soon as they come in, and a data store to process every single item as it arrives.
Sometimes less data that makes sense overrides copious amounts of nonsense. Smart Data is the analysed data that identifies peaks and drops in sales over a certain time or other patterns that have been extracted by algorithms. Smart Data is basically a lot data that has been filtered so that only the useful data remains. This useful data is able to help organisations make decisions and come to conclusions.