Data scientist - The new generation workforce

What is big data?

Large enterprises are congregating electronic data from assorted sensors, and electronic devices, which are of different formats, with the use of independent or connected applications. This data inflow has outpaced the firm’s efficacy to process, analyze, store, correlate and understand the captured datasets. This new voluminous dataflow which doesn’t fit into the ambit of decorous data processing techniques has been nicknamed as big data. It has carved itself with a home in this dynamic and expanding information ecosystem that many companies struggle to manage today. Mckinsey Global institute ascribes “Big data” to datasets whose size is above the dexterity of archetypal database software tools to capture, store, manage, and analyze.

Big Data association and aggregation

Organizations are dependent on Information technology, They are forced to collect information as a part of their day to day electronic transactions. Such collected information silos are scattered across various cooperating and independent organizations. Management models have evolved into collaborative business models leading to a win win for member or partners of the coalition. Such organizations with excellent chemistry have exercised partnerships to exploit their combined strength to win. These firms include, enterprises, large organizations and government departments have aggregated volumes of data on individuals, spread across their verticals, profiled individuals, and are today looking for synergies and opportunities for cross-fertilization leading to better insight and better business. Such firms churn data with a greater velocity and variability through the multitudinous elements composing the business canvas.

Big data ecosystem

Digital data explosion is beyond control as evident from the digital data being pumped into the digital world without relevance. The data so generated calls for special techniques, to manage and distill the essence out of it. Data follows the data lifecycle. In a larger parlance data co-exist  in a digital world and is a part of digital ecosystem. The digital ecosystem is still at its infancy. To start with digital data is brought to life through the interaction with digital gadgets by the digital users on a minute by minute basis. This is followed by aggregation of such data, analysis, and interpretation. There are other elements like the data platform, associated operating system, data storage, access mechanisms, data processing software, specialized resource, associated vendors, etc forming a part of this large ecosystem. Digital data ecosystem contributes to the genesis of bigdata ecosystem. Big data initiated by Douglass Read Cutting is an envelop term describing the management of very high volume data.  Interactions within the digital ecosystem by itself a study and calls for larger understanding of the system and their dynamics.