Thursday, 10 October 2013

Big Data is the next big deal


Big Data is large and complex data that can challenge traditional database systems. It is often described with the classic 3V model, which refers to high volume, high velocity and high variety. However, the definition is not carved into stone and thus there are many other angles of characterising Big Data.  

No matter which description you choose to go with, one thing is for sure: Big Data is a big deal. According to Gartner, the world’s leading IT research and advisory company, more and more companies will be using Big Data technology in the upcoming years. In fact, their research indicates that the number of companies investing in Big Data tech increased by 6% (from 58 to 64 per cent) since 2012. The findings also showed that 19% plans to make an investment in the next 12 months, while a further 15% thinks about investing in the next two years.

Lisa Kart, research director at Gartner, said: “While there are many areas companies would like to address, a slightly different picture emerges when we ask about the priority of these categories.

Different industries have different priorities when it comes to Big Data. Industries that are driving the customer experience priority are retail, insurance, media and communications, and banking, while process efficiency is a top priority for manufacturing, government, education, healthcare and transportation organisations.”

James Riley, global head of innovation at HCL Technologies, commented:  “The excitement around Big Data quickly needs to be translated into business value to justify the not inconsiderable investments required. Big Data projects typically fail because organisations try to do too much too soon and don’t have the necessary underlying technological architecture or people to properly support it. So [they] need to fully understand what is possible with Big Data and how it can help them achieve their corporate goals.”

However, increasing investments are not the only indicators of how important Big Data is becoming. To make good use of the massive amounts of information stored across data centres, IBM has decided to open up its Accelerated Discovery Lab dedicated to big data-related research.

Laura Haas of IBM Research said that the lab’s prime purpose is to help people get insight out of their data faster than ever before. While admitting that “it is still really hard to get the right kind of insight”, she stays confident that the lab can bring all the talent, skills and expertise together to tackle the arising difficulties. 

About the Author:       
Peter writes for Firebrand Training on a number of IT related topics. This includes exams, training, certification trends, project management, certification, careers advice and the industry itself.