To no one’s surprise, Big Data has forever revolutionized business mechanics. More and more CTO’s and business leaders today strongly believe that Big Data analytics has the ability to provide unprecedented insights, and improve business strategy leading to the identification and utilization of untapped profit sources.
Below are the top Big Data trends that emerged in 2013:
Companies now understand that Big Data analysis executed in silos doesn’t provide a complete picture. In order to achieve the maximum benefits, companies have to synthesize analytic results across domains (customer, supply chain, marketing, etc.) and work to produce holistic insights. Since traditional technology often struggles to cope up with the volume and variety of new and complex sources of data, new data mining and extracting tools have been introduced specifically designed to handle disparate sources of data. With the right architecture and tools, these systems can interact intelligently, share data and/or analytic results between components and minimize data movement. As a result, overall analysis efficiency has been given a boost and producing better returns.
- Open Source
Big Data analytics is one of the few technologies based on the open source revolution and the adoption rate of open source technologies such as Hadoop, Hbase R and Python is growing incrementally. Open-source platforms garner billions of dollars investments. Commercial vendors will likely continue with this preference and turn proprietary technologies into open source.
- ‘Clouderization’ of Data
The initial apprehensions around the reliability, safety and sustainability of cloud computing are slowly fading away, and companies are increasing their overall spend on cloud infrastructure. The intersection of analytics and cloud is creating new value and means to exploit Big Data.
Big Data is for Everyone
More and more industries are leveraging Big Data to gain important insights. Even traditional industries such as banking and retail are moving beyond standard analysis and incorporating data mobile logs, social media, and video and image processing for early-stage experimentation to create a blueprints for approaching specific Big Data types. Trends are moving away from intuition-based decisions to fact-based analysis.
What other trends did you observe in 2013? Share it with us in the comments section.