The Essential Glossary of Data Buzzwords
24 August, 2016
The IT world has an overwhelming array of confusing jargon, which seems to be updated by techies on a daily basis. With the hype surrounding big data, there are so many buzzwords which you need to understand, and it can be difficult to keep up! As of summer 2016, here is a roundup of some of the newest trends and latest lingo you’ll want to know.
Let’s start pretty east. Fast data refers to information which will lose its usefulness over time. Streaming and anything which offers a fast user response can be referred to as fast data – data which needs to be captured and analysed in real time.
This is another term for restricted data, or data which is underused or disregarded. If people don’t have access to it or don’t know it’s there, it’s dark data.
Data visualisation (Data Viz)
With so much data filling up the analytics department, it can be hard to know where to start. Data visualisation techniques coverts the data into a visual which can help analysists spot insights.
We’re not sure who made up this word, which sounds more like a children’s playground game than part of a serious business intelligence vocabulary. In simple terms, Hadoop refers to a software as a way of storing large volumes of data with a variety of hardware products. You’ll often hear the term used with big data.
This one speaks for itself; a way of predicting future events using past data. Predictive analytics offers control and insight into changing the future of the business.
This is the action of copying data into a second offline database for business analytics purposes. While this used to be done on a weekly or monthly basis, the evolution of data importance means that some data warehouses are even updated in real time.
Many companies describe themselves as data-driven. This term simply means to make informed decisions backed by data analytics. From KPIs to advanced business reports, people at the top need to use proven data rather than their experience or previous knowledge to make important choices.
Hopefully the data centre experts at ITE Projects have explained a few things for you! Of course, by the end of the year there will be a whole new set of data buzzwords to learn…