Coming to the management of data, what happens when the entire stacks of data is not kept in a proper order? Of course, all the data will be lost and it will be rather tough to find the information one is looking for. How is all the data managed?
This is where big data analysis comes in picture. There are plenty of places from where we get big amount of data and some of them are internet, sensors, social media websites, devices and other such sources. The stock market also has plenty of data generated in the form of numbers each time the stock led ticker shows new numbers. All this data is generated in a real time and the size of it is vast.
Now, any hidden correlations of unknown patterns are discovered by big data analysis. All the data generated on a daily basis would be of no use if it not organized properly.
The available data that one generates from the use of big data analyse can be put to a better use by incorporating the minute details in their research. For instance, if a customer is switching form one call service provider to another, then they could use the details of the calls placed by the customer to know where they had gone wrong and improvise on it. Just like this, other companies also make a good use of big data analysis to yield positive results.
Hadoop – The Elephant of the Room
It doesn’t make sense when you are talking about big data and you have not stumbled upon the much anticipated word – Hadoop. This is one of the finest technology when it comes to talking about big data analysis. Hadoop is the open source software platform which functions to ensure that the big amount of data that is needed and used on a daily basis is managed efficiently without expensive investments.
What does it exactly do? Now, this is the million dollar question as Hadoop is a name that everyone can rely on. Hadoop is smart because it does not store all the information and data at one specific server but it divides it up in various clusters and the data is present at all of these distributed servers. What is the big thing about this? Well, for one, you don’t end up losing all the data even if a single server or a set of clusters fail. Moreover, it has been designed to help you access and manage all these huge volumes of data efficiently as it will not shuttle them between multiple servers.
Want more reason to try out Hadoop? Then, you should also know that the software is completely modular and robust. If one of its components doesn’t work, then you can switch it with another component without any fuss.
How It Helps The Stock Market?
There are plenty of places where data is used heavily but one place that you cannot miss is the stock market. Take for example, NYSE, which itself is the biggest stock market ground and uses led ticker display applications quite fervently. Now, a place where the money is invested and withdrawn in huge figures has to have a lot of data. In order to manage all these data, Hadoop technology and its various applications like MapReduce, Pig and Hive have proven to be highly beneficial.
Hadoop is the best technology to manage the data of stock market because it is based on a rigid structured form and it makes data-flow language easy. The language used by Hadoop is declarative SQLish language and it is also used by anaylists to generate reports.