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Big Data

Big Data

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With every passing day, Big Data assumes new strength as a significant force in our industry. Someone even said that Big Data is transforming business same way IT did few decades ago.

With every passing day, Big Data assumes new strength as a significant force in our industry. Someone even said that Big Data is transforming business same way IT did few decades ago.

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Categories:Business/Law
Published by: Compassites Software Solutions Pvt.Ltd on Feb 11, 2013
Copyright:Attribution Non-commercial

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Big Data - Business Value
With every passing day, Big Data assumes new strength as a significant forcein our industry. Someone even said that Big Data is transforming businesssame way IT did few decades ago.The overall revenue (includes hardware, software, service) for Big Data is saidto be around $5.1B in 2011 and includes players such as IBM, Intel, HP, Fujit-su, etc. This is hard to fathom! But pure-play revenue coming from playerssuch as Vertica, Aster, Cloudera, Greenplum, 1010Data, etc. is valued at$468M in 2011. Then someone said the projected revenue from Big Data willreach an astounding $53B by 2017 (source- Wikibon), growing to $10B in2013, $32 in 2015 and $48B in 2016. We can argue on these numbers, but letus agree that this will be quite big. Why is that?We all know about data growth. Facebook with 900M users in April, 2012 didanalytics on 25PB (petabytes) of compressed data ($125PB of raw data). Twit-ter handled 400M tweets a day during June 2012. Overall corporate data issupposed to grow by 94% year to year. Facebook made several shifts
 –
from
“what data to store” to “what can we do with more data”. They simplified data
analytics for end users by adopting more than one infrastructure to solve all BigData problems.I read that som
eone identified the 3 I’s of Big Data besides the 3 V’s (volume,
velocity, and variability). They are Immediate (do something now), Intimidating
(what if I don’t?), and Ill
-defined (what is it anyway? many definitions). The
middle one “Intimidating” refers
to leveraging Big Data applications like onlineadvertising and marketing optimization, or applications to predict crime data, or machine-generated data for analytics.

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