The much anticipated Social Media Week Lagos 2015 (#SMWLagos15) has come and gone, and there were quite a number of key conversations that went on during the week, which featured prominent individuals across government, entertainment, technology, media industry as well as academics and enthusiasts.
In layman terms, many would argue that the concept of ‘Big Data’ is one only to be heard of in developed climes. However, this was one concept Ayodeji Balogun, Chief Technology Officer of Terragon Group was willing to tackle at the just concluded Social Media Week Lagos themed ‘Upwardly Mobile: The Rise of a Connected Africa’ which held between Monday, 23rd February and Friday, 27th February 2015.
Balogun, a self-taught programmer who has a wealth of product development experience, and vast competence in various web and mobile technologies, spoke to a targeted audience at an Executive Masterclass on Monday, 23rd February on the topic ‘Big Data, Analytics and What it means for Businesses in Africa’.
While addressing the audience, Balogun emphasized how the concept of ‘Big Data’ is still considered as something so far away when it is so near: “Beyond the hype, there are numerous facts that show that ‘Big Data’ is not the future but the now! One of these facts is seen with what we do on social media. It is estimated that every minute around the world, we send 204 million emails, generate 1.8 million Facebook likes, send 278,000 tweets and upload 200,000 photos on Instagram. Google alone processes on average over 40,000 search queries per second, making it over 3.5 billion in a single day. If you burned all the data created in just one day onto a DVD, you could stack them on top of each other to reach the moon – twice.”
He stated that every individual’s action online creates a trail that can be used, “Everything we do is increasingly leaving a digital trace or data which we and others can use and analyze.” According to him, Big Data can be classified into 5 (Five) segments; Enterprise data, Public data, Sensor data, Social Media and Transactions. All these classifications have the core characteristics of Big Data – Velocity, Variety, Volume, and Veracity.
With 12 servers in four continents handling up to a billion ad requests every month and terminating over 10 million daily transactions across mobile operators in Africa, he concluded by sharing his experience dealing with Big Data at Terragon Group.
The ‘Big Data’ focus at Social Media Week with Terragon Group, gave the much-needed insight to the concept and its applications in the real world, and more specifically, emerging markets.
Terragon Group was a sponsor and media partner at this year’s edition of Social Media Week Lagos