Big Data Analytics Essay

7653 words - 31 pages

Challenges and Opportunities with Big Data
A community white paper developed by leading researchers across the United States

Executive Summary
The promise of data-driven decision-making is now being recognized broadly, and there is growing enthusiasm for the notion of ``Big Data.’’ While the promise of Big Data is real -- for example, it is estimated that Google alone contributed 54 billion dollars to the US economy in 2009 -- there is currently a wide gap between its potential and its realization. Heterogeneity, scale, timeliness, complexity, and privacy problems with Big Data impede progress at all phases of the pipeline that can create value from data. The problems start right away ...view middle of the document...

During the last 35 years, data management principles such as physical and logical independence, declarative querying and cost-based optimization have led, during the last 35 years, to a multi-billion dollar industry. More importantly, these technical advances have enabled the first round of business intelligence applications and laid the foundation for managing and analyzing Big Data today. The many novel challenges and opportunities associated with Big Data necessitate rethinking many aspects of these data management platforms, while retaining other desirable aspects. We believe that appropriate investment in Big Data will lead to a new wave of fundamental technological advances that will be embodied in the next generations of Big Data management and analysis platforms, products, and systems. We believe that these research problems are not only timely, but also have the potential to create huge economic value in the US economy for years to come. However, they are also hard, requiring us to rethink data analysis systems in fundamental ways. A major investment in Big Data, properly directed, can result not only in major scientific advances, but also lay the foundation for the next generation of advances in science, medicine, and business.

Challenges and Opportunities with Big Data
1. Introduction
We are awash in a flood of data today. In a broad range of application areas, data is being collected at unprecedented scale. Decisions that previously were based on guesswork, or on painstakingly constructed models of reality, can now be made based on the data itself. Such Big Data analysis now drives nearly every aspect of our modern society, including mobile services, retail, manufacturing, financial services, life sciences, and physical sciences. Scientific research has been revolutionized by Big Data [CCC2011a]. The Sloan Digital Sky Survey [SDSS2008] has today become a central resource for astronomers the world over. The field of Astronomy is being transformed from one where taking pictures of the sky was a large part of an astronomer’s job to one where the pictures are all in a database already and the astronomer’s task is to find interesting objects and phenomena in the database. In the biological sciences, there is now a wellestablished tradition of depositing scientific data into a public repository, and also of creating public databases for use by other scientists. In fact, there is an entire discipline of bioinformatics that is largely devoted to the curation and analysis of such data. As technology advances, particularly with the advent of Next Generation Sequencing, the size and number of experimental data sets available is increasing exponentially. Big Data has the potential to revolutionize not just research, but also education [CCC2011b]. A recent detailed quantitative comparison of different approaches taken by 35 charter schools in NYC has found that one of the top five policies correlated with measurable academic effectiveness...

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