Large data volumes?
Very large. “By the year 2003, humans had created a total of 5 trillion gigabytes of data. In 2011 the same amount was created within 48 hours. Now, creating the same data volume requires just 7 minutes,” illustrated RBB Radioeins in simple and effective terms. Driven by the internet, social networks, mobile devices and the Internet of Things, the worldwide digital data volumes will grow another tenfold by 2020. In Germany alone the current figure of 230 billion GB will rise to 1.1 trillion GB.
This is exactly were Big Data comes into play: The huge data volumes are checked for relationships using a such algorithm, and the whole process requires a combination of several disciplines. “It ranges from traditional informatics and data science to interface design. Machine learning, deep learning and artificial intelligence to mathematics, statistics and data interfaces,” explains Florian Dohmann, Senior Data Scientists at The unbelievable Machine Company. “A lot of this is nothing new, but combining them all creates the basis for new opportunities.”