Big data is a big deal in today’s world of technology. According to the IDG Enterprise 2016 Data and Analytics Survey, over 70% of businesses agree that big data has the potential to fundamentally change the way they do business and create new revenue opportunities in the next one to three years, while 53% of companies are currently implementing or planning to implement data-driven projects within the next 12 months.
Everyone is talking about Big Data. But what exactly is it and how does it work? Though the term is widely used and accepted, there is still no rigorous definition, which leads to serious misconceptions about what big data actually is.