This new selection process was a huge success and the much-improved and heavier sheep were called Leicestershire sheep, and the cattle were known as Leicestershire Long-Horns. Robert Bakewell then continued with his work and went on to produce a new breed of black horses for both farm and army work.
In defining big data, itâs also important to understand the mix of unstructured and multi-structured data that comprises the volume of information. Unstructured data comes from information that is not organized or easily interpreted by traditional databases or data models, and typically, itâs text-heavy.
Furthermore, those organizations able to quantify their gains from analyzing big data reported an average 8% increase in revenues and a 10% reduction in costs. âBig data analytics brings many benefits to the table, but companies shouldnât underestimate the challenges involved,â says Dr. Carsten Bange, CEO of BARC and co-author of the study. âOur survey identified data privacy and data security as the two most important issues in companies that already have big data initiatives in place.â The next most cited problem is the lack of internal business and technical know-how for tapping and analyzing big data, leading many companies to say that they intend to create new jobs in this area.