Big Data and Cloud

Abstract

The rise of multimedia, social media, sensor networks and the Internet of Things will fan the flames of data explosion in many application domains. These emerging Big Data applications present enterprises with very high data-to-compute ratio. For example, in Square Kilometre Array (SKA), a telescope generates more data than the whole Internet with a single file often reaching multiple terabytes in size. As data volumes continue to increase exponentially, the challenge is not only how to store and manage data but also to effectively analyse the data to gain insight knowledge to make smarter decisions. One of the key challenges is transforming the raw data available to your business into business value and strategic advantage. The better management and analysis of Big Data will become the next frontier of innovation, competition and productivity. For example, according to a McKinsey Global Institute study, a retailer exploiting the full potential of big data could increase its operating margin by more than 60 percent; efficient and effective use of big data could save more than $300 billion dollars for US government in healthcare alone. Therefore, there is a need of effective and efficient management and analysis of big data.