All About Big Data
What Big Data Is
Big Data is just what it sounds, a phrase for a collection of data that consists of structured and unstructured data that is difficult to process with traditional databases and software techniques which helps in research, discovery, and analysis.
Successes & History of Big Data
In 1997, Google launches its search engine which is to become the most famous in the world. In 2001, the 3V's are stated by Doug Laney, namely, Volume, Velocity, and Variety. In 2005, Hadoop, an open source big data framework is developed by Apache. In 2014, mobile internet use takes over desktop. Also in 2014, 88% executives said big data analytics is a top priority in a survey of GE.
Big Data Today
Big Data today is more advanced than it was a decade ago, as you might know, more than 90% of the data created till today was generated within these two years. Also, the data generated until 2003 can now be created within two days. Predictions made by industry experts say that the data that exists today, 3.2 zettabytes (ZB) will go up to 40 zettabytes (ZB) by 2020. The volume of data generated doubles approximately every 1.2 years. As you can see, Big Data has already become advanced than it was a decade ago and will become assuredly even more advanced in the years to come. All kinds of organizations and companies use big data, like Netflix, Google, Capital One, T-Mobile, Starbucks, etc.
Future of Big Data
Big Data's future is undoubtedly bright with a 23.1 compound annual growth rate (CAGR) and is estimated to reach a whopping $49.2 billion by 2019 (See Figure 3). Investment in Big Data is a great investment as it is a technology that will for sure be in the future (See figure 1). Also, this is just the starting of big data, big data will grow from 7-8 ZB right now to 40 ZB! Big Data helps as it helps grow revenue, enhances customer service, and improve enterprise performance (See Figure 4). By 2020, data will be 50x than it was in 2010 (See Figure 5).
Sources
Press, Gil. "6 Predictions For Big Data Analytics And Cognitive Computing In 2016." Forbes. Forbes Magazine, 15 Dec. 2015. Web. 16 July 2016. <http://www.forbes.com/sites/gilpress/2015/12/15/6-predictions-for-big-data-analytics-and-cognitive-computing-in-2016/#3bb3d4e7409e>.
Singh, Bhavna. "Top 10 Amazing Facts To Know About Big Data." Business 2 Community Top 10 Amazing Facts To Know About Big Data Comments. N.p., 14 Oct. 2015. Web. 16 July 2016. <http://www.business2community.com/big-data/top-10-amazing-facts-know-big-data-01357650#AJk9edJbmaHRcUmA.97>.
"Big Data and the Internet of Things." - Mobile Business Apps. N.p., n.d. Web. 16 July 2016. <http://www.infragistics.com/community/blogs/mobileman/archive/2015/12/15/big-data-and-the-internet-of-things.aspx>.
Columbus, Louis. "Roundup Of Analytics, Big Data & Business Intelligence Forecasts And Market Estimates, 2015." Forbes. Forbes Magazine, 25 May 2015. Web. 16 July 2016. <http://www.forbes.com/sites/louiscolumbus/2015/05/25/roundup-of-analytics-big-data-business-intelligence-forecasts-and-market-estimates-2015/#78dc2d204869>.