We propose a new (theoretical) computational model for the study of massive data processing with limited computational resources. Our model measures the complexity of reading the very large data sets in terms of the data size N and analyzes the computational cost in terms of a parameter k that characterizes the computational power provided by limited local computing resources. We develop new algorithmic techniques that implement algorithms for solving well-known computational problems on the proposed model. In particular, we present an algorithm that finds a k-matching in a general unweighted graph in time O(N + k^{2.5}) and an algorithm that constructs a maximum weighted k-matching in a general weighted graph in time O(N + k^3 log k). Both algorithms have their space complexity bounded by O(k^2).