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Smart grids have been gradually replacing the traditional power grids since the last decade. Such transformation is linked to adding a large number of smart meters and other sources of information extraction units. This provides various opportunities associated with the collected big data. Hence, the triumph of the smart grid energy paradigm depends on the factor of big data analytics. This includes the effective acquisition, transmission, processing, visualization, interpretation, and utilization of big data. The paper provides deep insights into various big data technologies and discusses big data analytics in the context of the smart grid. The paper also presents the challenges and opportunities brought by the advent of machine learning and big data from smart grids.