The Massachusetts Institute of Technology today announced a research initiative to tame so-called Big Data, sets of information that are so complex and fast-growing that they defy traditional methods of analysis. Examples are the data involved in online financial transactions of major banks or collected by social networks.

Key to the effort will be the creation of the Intel Science and Technology Center for Big Data, which will reside at MIT’s Computer Science and Artificial Intelligence Laboratory. The computer-chip maker Intel will contribute $2.5-million per year for up to five years to support the research center. The lab also plans to work with other companies, including AIG, EMC, SAP, and Thomson Reuters, in the project.

To read the full, original article click on this link: MIT Establishes Research Center to Harness 'Big Data' - Wired Campus - The Chronicle of Higher Education