Big Data

Big data is a fashionable yet somewhat ambiguous term that emerged from the major expansion of the collection, storage, and processing of data since the start of the 21st century. The expression has been synonymous with data so massive by current standards that they cannot be readily interpreted with common statistical software nor be easily stored on conventional hard disk drives or servers. The concept is not consistent across industries or firms; what one company considers big data another may not. The concept is also not static; what qualifies as big data today may not do so tomorrow. It is determined over time by the relative growth rates of data volume, processing power, and storage capacity. Simply put, the severity of future logistic problems will ...