Big data is a broad term for
data sets so large or complex that traditional
data processing applications are inadequate. Challenges include
analysis, capture,
data curation, search,
sharing,
storage,
transfer,
visualization,
querying and
information privacy. The term often refers simply to the use of
predictive analytics or certain other advanced methods to extract value from data, and seldom to a particular size of data set. Accuracy in big data may lead to more confident decision making, and better decisions can result in greater operational efficiency, cost reduction and reduced risk.