Believe it or not – it’s happening and the Big Data market is exploding. According to recent survey conducted by Wikibon Big Data market is set to grow at a 17% rate every year between 2015 and 2026. The total market share is estimated to be around $84 billion USD by 2026. Now you are wondering how can you tap into this market and make your dreams come true? Here is what you need to know –
Big Data is not new and some of it have always been done by major enterprises sitting on pile of cash. Since doing Big Data in the last decade means buying super computers and expensive machines and setting them up in their own physical data centers and hiring highly skilled professionals, not a lot of companies were able to afford that much resources and funding for pursuing Big Data projects.
But in the last few years along with the decreasing hardware costs and open source technologies and thousands of applications hitting the market even smaller companies were able to do Big Data. But again what is Big Data?
Big Data is the buzz word that we are hearing today which refers to all kinds of data that our smarter world is producing every second. It’s not just the volume, but the variety, velocity and the veracity. I am sure the first three V’s are self-exploratory, but the last V (which is veracity) is the uncertainty of the data. Ex: Twitter posts with hash tags, abbreviations, typos and colloquial speech, now Big Data can even work with this type of data.
Individuals and companies procrastinating on onboarding to Big Data will be left out and won’t be able to compete in the market.
To keep up with the Big Data news here are some of the cool sites that you can visit –