Big Data phenomenon is an emerging topic in engineering, medicine, science, healthcare, business and in society itself. It refers to the practice of collecting massive datasets and algorithm used to analyze these large datasets. Big data itself comes from various sources like social networking sites, RFID tag data, and log data etc. giving variety to data, and in huge amounts giving volume to data. This paper shows the insight of big data, its processing through Hadoop, and due to its large sizes difficulties in analyzing it and presents new systems for dealing with the challenges faced while handling massive big datasets. Couples of Knowledge Discovery process, big data helps organizations to gain huge benefits. This paper also deals with the present key issues in cloud computing architecture and cloud database. Since a diversity of platforms gives an area to attackers, we deal with some security issues which include network security, computer security, data privacy and information security. Big data, cloud computing and applications represent the most promising future in science.