‘Big Data’ has become a hot buzzword, but a poorly defined one. Here we will define it.
Wikipedia defines Big Data in terms of the problems posed by the awkwardness of legacy tools in supporting massive datasets:
In information technology, big data is a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.
It is better to define ‘Big Data’ in terms of opportunity, in terms of transformative economics.…