Big Data Technology: Essence, Business Opportunities

In recent years, there has been a huge increase in data volume, which is a key factor in the Big Data scenario. Big Data requires new high-performance processing. The article is devoted to the review of the Big Data technology and its peculiar features. The emergence of the term "Big Data", the main approaches of scientists to its interpretation as well as the examples from the current practice of the developed countries in its implementation have been investigated. It has been substantiated that the Big Data concept is a promising research area for different spheres of Ukrainian economy, which opens up new opportunities for doing business and managing the economy. The peculiar features of the Big Data analytics methods and technologies classification have been described, that are classified according to the functional relationships and formal model of this information technology. The article deals with the basic concepts connected to Big Data, the basics and principles of operation with Big Data methods and approaches. The trends in the current market for services and products have been analysed, as well as in which cases such technologies can be applied, and why big data is gaining popularity, despite of their high price. Big Data is a social and economic phenomenon associated with the emergence of new technological capabilities to analyse the vast amount of data. The aim of the article: to explore the concept of Big Data and to find out how the application of Big Data creates significance for business. Research Methods: to achieve this aim, the systematic analysis methods have been used to formulate a Big Data conceptual model. The scientific novelty of the study is to solve an actual scientific task concerning the development of tools for organizing and integrating the Big Data information resources. The data model of the type "essence-characteristic" enables the processing of structured and partially structured data. The integration of the data, with the previously unknown structure, from the sources, by means of determination the pair of the type «essence-characteristic» enables to increase the Big Data analysis efficiency. The practical significance of the results obtained is to improve the algorithms for integrating information resources through prior determination the structure of data sources, their coordination and generalization. The unification of data processing algorithms increases the relevance of the response to the user. The implementation of Big Data technologies enables qualitatively and promptly take advantage of a vast amount of information. The government agencies and business representatives, with their help, optimize different processes and as a result, the end-consumers receive quality services. The active involvement of scientists in the methodology of Big Data information and technology concept implementation is a strategic mainstream for the further development of Big Data. Further research will allow implementing the latter in decision-making and risk management processes, which will inevitably bring the economy to a qualitatively new, higher level.