Big data (for extra credits)

Big data

 The term big data is a catchall phrase that is used to refer to three aspects of the same phenomenon: 1) the vast amount of continually streaming digital information that characterizes much of modern day life; 2) the exponential increases in massive data storage capacity, and 3) the data processing power required to aggregate, analyze, manage, and interpret large volumes of digital information.
 Technology companies and entrepreneurial start-ups are frenetically looking for ways to construct the fastest algorithms for data analysis, or create the most reliable tools for accurate data extraction, or to build the biggest database. The database management industry is seeing another spin-off: businesses that enable companies to most effectively apply the best information that technology can offer. These two industry thrusts - great technology and effective use of the massive body of data – are regarded as the foundation of business use of big data.