The opportunities and challenges connected with implementation of the big data concept

Abstract

This paper is devoted to the analysis of the Big Data phenomenon and the opportunities and challenges connected with it. It is composed of seven parts. In the first, a general overview of the situation related to the transformation of the economy from the industrial into the post-industrial one is given. In this context, the growing role of data and information as well as the rapid increase in the new socio-economical realities and the notion of Big Data are discussed. In the next section, the notion of Big Data is defined and the main sources of growth of data are characterized. In the following part of the paper the most significant opportunities and possibilities linked with Big Data are presented and discussed. The next part is devoted to the characterization of tools, techniques and the most useful data in the context of Big Data initiatives. In the following part of the paper the success factors of Big Data initiatives are analyzed. The penultimate part of the paper is focused on the analysis of the most important problems and challenges connected with Big Data. In the final part of the paper, the most significant conclusions and suggestions are offered.