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Big Data – The Future of Data Analytics

  • By admin
  • June 16, 2014

The Big Data stormed up the markets in the earliest decade of 21st century. Since then, the global big shots of the Information Technology and Data Analytics industry have been associated with it. Big Data generally refers to both ordered and unstructured data which is available in huge amounts and is increasing at an exponential level. Usually, it becomes difficult to capture, store, process and analyze such huge amounts of data sets with any type of database management tools or conventional data processing applications. The large data sets are derived when some extra information is derived from another set of large data or from various levels of small data sets.

The upper limit of data sets which could be processed was in the order of exabytes in 2012. The major areas in which the big data is frequently faced are meteorology, genomics, physics simulations, business research, environmental research and such like. In 2013, the revenue of the Big Data market which is in terms of vendor revenue in relation to hardware, software and services stood at USD 18.6 billion. The market registered a growth in revenue of 58 percent in comparison to 2012. Among the various segments making revenue, the services segment contributed 40 percent of the revenue. The hardware segment had the contribution of 38 percent and software 22 percent. The services segment registered impressing revenue of USD 7,393 million in 2013. Among the global leaders, IBM profited the most from Big Data and generated USD 1,368 million. Other renowned names also generated generous revenues from the same like HP, Dell, SAP and such like. There are companies like Palantir and Pivotal who generated their entire venue from Big Data. The factor which propelled the growth of Big Data market is the Big Data and IT vendors have taken a step forward in making the relevant product and services more communicative. There has been a technological advancement in the products and services which has favored the adoption of the same significantly. The improvements and amendments took place to cater to the enterprise level requirements. 2013 has been an important year as many products and services were launched in relation to Big Data management. IBM released PureData System for Hadoop, BLU Acceleration, BigSQL and the Watson Developer Cloud. Amazon Web Services launched Kinesis which is a streaming data structure for real-time purpose. It also released its comprehensive data ware housing service known as RedShift.

The Big Data market is showing a promising future. The 2014 estimation shows that the market is foreseen to reach USD 28.5 billion registering a growth of 53 percent. The market is predicted to generate revenue of USD 50.1 billion by 2017. The Big Data applications and cloud-based services will be popular subjects in the relevant industries. The Big Data market is expected to see increasing adaptability in near time and increased popularity is expected to follow.

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