Tuesday, January 7, 2014

Big Data Analytics by ICGX

The data revolution has only just begun. Everyone is talking about Big Data. Big Data grows up - Forbes Business opportunities is Big Data - INC. Big Data powers evolution decision making - WSJ How Big Data got so big - NYT Big Data is hot? Now what? - Forbes Businesses "freak out" over Big Data - Information Week 2012: The year of Big Data - WSJ The age of Big Data - NYT But it's not just hype. The world's data is doubling every 1.2 years. There are 7 billion people in the world. 5.1 billion of them owns cell phone. Each day, we send over 11 billion texts, watch over 2.8 billion YouTube videos and preform almost 5 billion google searches. And we're not just consuming it. We're creating it. We are data agents. We generate over 2.4 quintillion bytes everyday from consumer transactions, communication devices, online behavior, streaming service. In 2012, the world’s information totaled over 2 zetabyes. That’s 2 trillion gigabytes. By 2020, that number will be 35 trillion. We will need 10x more servers, 50x more data management, 75x more files to handle it all. If you're like most companies, you aren't ready. 80% of this new data is unstructured. It is too large, too complex, and too disorganized to be analyzed by traditional tools. There are 500K computer scientists yet only 30K mathematicians. We will fall short of the talent need to understand Big Data by at least 100K. To find opportunities in Big Data, we need new tools and new talent to mine this information and find value. We need Big Data Analytics. Big Data Analytics is more than technology. It’s a new way of thinking. It will help companies better understand customers, find hidden opportunities, even help our government better serve citizens and mitigate fraud. It will inspire hundreds, thousands and even millions of new startups. It will alter the landscape across virtually every industry and finally answer the questions looming over every CEO's head, "How can my business use Big Data?", "What problems can it solve?", "Who should be leading the charge, CIO, CMO, or Chief Data Scientists ?". In every revolution, there are opportunities that will be seized only by those armed with the right tools and right strategy. We are at the beginning of the Big Data Revolution.

1 comment:

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