Significance and Challenges of Big Data Research

In recent years, the rapid development of Internet, Internet of Things, and Cloud Computing have led to the explosive growth of data in almost every industry and business area. Big data has rapidly developed into a hot topic that attracts extensive attention from academia, industry, and governments around the world. In this position paper, we first briefly introduce the concept of big data, including its definition, features, and value. We then identify from different perspectives the significance and opportunities that big data brings to us. Next, we present representative big data initiatives all over the world. We describe the grand challenges (namely, data complexity, computational complexity, and system complexity), as well as possible solutions to address these challenges. Finally, we conclude the paper by presenting several suggestions on carrying out big data projects.