How Cloud Computing Democratizes Big Data
June 7, 2013
Grazed from ReadWriteCloud. Author: Seth Payne.
Big Data, just like Cloud Computing, has become a popular phrase to describe technology and practices that have been in use for many years. Ever-increasing storage capacity and falling storage costs – along with vast improvements in data analysis, however, have made Big Data available to a variety of new firms and industries. Scientific researchers, financial analysts and pharmaceutical firms have long used incredibly large datasets to answer incredibly complex questions. Large datasets, especially when analyzed in tandem with other information, can reveal patterns and relationships that would otherwise remain hidden.
Extracting Simplicity From The Complex
As a product manager within the Global Market Data group at NYSE Technologies, I was consistently impressed with the how customers and partners analyzed the vast sets of market trade, quote and order-book data produced each day…
On the sell side, clients analyzed data spanning many years in an attempt to find patterns and relationships that could help fund portfolio managers build long-term investment strategies. On the buy side, clients mined more-recent data regarding the trade/quote activities of disparate assets. University and college clients sought data spanning decades. Regardless of the specific use case, clients required technology to process and analyze substantial and unwieldy amounts of data…
Read more from the source @ http://readwrite.com/2013/06/07/how-cloud-computing-democratizes-big-data