Research and analysis
Emerging technologies: big data
The paper explores what 'big data' means, identifies trends and explores opportunities for big data applications.
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In this paper, ‘big data’ refers to:
- large volumes of data with high level of complexity
- the analysis used for the data that requires more advanced techniques and technologies to gain meaningful information and insights in real time
The main trends include:
- the emergence of cloud computing
- new software tools and database systems for large, unstructured datasets,
- refining analytical tools so that they can process vast quantities of data in near-real time
- monetisation of big data sources
- concerns around privacy of data and intellectual property
- the rise of global smart cities