Everybody must be hearing the buzz about Big Data and Hadoop and how many billions dollars will be invested in Big Data Projects from Fortune 500 companies in the coming time. It is critical to know about every next big thing because all the players start from Start and India has a great chance to get a big pie from “Big data Cake”.
Here the question arises, how big the “CAKE” is! Gartner estimates investment of 260 billion dollars by 2016. That is quite a big amount. Just to give you a comparative explanation, total IT Industry in India including all big, medium and small companies account to 100 billion dollars. From the new investment prospective, you can now imagine how big the Big Data is and the potential it has to create fresh, new age leaders, entrepreneurs and huge job opportunity for fresh graduates.
Let’s talk about the drivers behind the massive emergence of Big Data as a favourite investment destination all Fortune 500 companies. I can figure out 3 drivers behind this phenomenon:
1. Social Media is the future
Social Media is forcing all big players to change their marketing and promotion strategy. Social media generates unbelievable amount of data every day and that too unstructured.
2. Internet is the biggest market place now
Internet is influencing the buying decision of most of the customers and many customers are buying products online too. Even the customers who are buying offline, their decisions are highly influenced by the Internet.
3. Data explosion
Data size we have to deal with is unprecedented and beyond any pre social media era estimate.
To turn above three challenges into opportunities, we need altogether a new approach which is robust and independent of any constraint from the data size or format. Big Data answers all these burning questions.
Will explain you further in future posts.
For MCAL
Ashok Singh