By 2020, our data universe will be 35ZB. In 2009 it was 0.8ZB. It is growing by factor of 44 as per IDC
The data is growing faster and faster. In fact 80% of worlds data is unstructured and it is growing at the rate 15X to the structured data. Right now information is democratized and available to all. In fact Facebook generated alone 550TB of data per day
Most of the data is generated by individuals. This is the era of Human information. Human information is made up of ideas and information.
97,000 tweets per second
12 million texts per minute
294 billion emails every day
Most of the data is unstructured data. This unstructured data is growing exponentially each day, each year. This unstructured data is the focus of Big Data analytics.
Lot of applications and business models are being developed around this unstructured data.
Some examples are:
1) An application for Who is visiting my website?
2) An analysis for What are my customers saying about me?
3) An application to analysis what my customers like to buy?
So where is this data coming from? This wide range of unstructured data is generated from wide range of sources like mobile devices, social media, flash mobs and sensors etc.
Data drives the bottom line, and technology is no longer limiting your competitors.
Data-focused businesses have rejected the concept of compromising business objectives for the sake of technology. And they’ve been able to do so way ahead of the curve because they never had to change legacy thinking or infrastructure
Why Do organizations need Big Data solutions?
1) For transparency: If the business can interpret or analyze the unstructured data it creates transparency for the business. Business can justify its decision because it has the data to do it
2) Experimentation: armed with new information, businesses can do experimentation with their product line and marketing
3) Segmentation: Business can segment customers and can target products and services specially made for a particular segment. It increases the success rate and bring revenue.
4) Automate: Business can create algorithm to automate many human decisions
So what are the big data challenges? Well they are:
1) One of the main concern for an enterprise is how to retrieve or search relevant information faster?
2) How to gain value form this data? How to harness this data?
3) How to integrate structured and unstructured data access?
4)What infrastructure is required to store, backup and secure this data?
What are the options we have?
1) New search and e-discovery tools
2) Platforms that can process structured and unstructured data
3) Tools to unify information access
4) New state of the art storage solutions