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Big Data Management

In: Essentials of Business Analytics

Author

Listed:
  • Peeyush Taori

    (London Business School)

  • Hemanth Kumar Dasararaju

    (Indian School of Business)

Abstract

The twenty-first century is characterized by the digital revolution, and this revolution is disrupting the way business decisions are made in every industry, be it healthcare, life sciences, finance, insurance, education, entertainment, retail, etc. The Digital Revolution, also known as the Third Industrial Revolution, started in the 1980s and sparked the advancement and evolution of technology from analog electronic and mechanical devices to the shape of technology in the form of machine learning and artificial intelligence today. Today, people across the world interact and share information in various forms such as content, images, or videos through various social media platforms such as Facebook, Twitter, LinkedIn, and YouTube. Also, the twenty-first century has witnessed the adoption of handheld devices and wearable devices at a rapid rate. The types of devices we use today, be it controllers or sensors that are used across various industrial applications or in the household or for personal usage, are generating data at an alarming rate. The huge amounts of data generated today are often termed big data. We have ushered in an age of big data-driven analytics where big data does not only drive decision-making for firms but also impacts the way we use services in our daily lives. A few statistics below help provide a perspective on how much data pervades our lives today:

Suggested Citation

  • Peeyush Taori & Hemanth Kumar Dasararaju, 2019. "Big Data Management," International Series in Operations Research & Management Science, in: Bhimasankaram Pochiraju & Sridhar Seshadri (ed.), Essentials of Business Analytics, chapter 0, pages 71-109, Springer.
    • Handle: RePEc:spr:isochp:978-3-319-68837-4_4
    DOI: 10.1007/978-3-319-68837-4_4
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