Big Data Analytics - what is it? Well, the term “big data” is relatively new trend which describes keeping track of huge datasets from all different traffic sources, including online, search, social media, mobile, traditional media and so on. Big Data analytics is the even newer term which describes the ability to not only track all of this data, but to make sense of it in order to use it to make important business decisions. Big Data is the natural progression of business intelligence tools, CRM and marketing automation software suites.
According to Wikipedia on Big Data:
“Big data is a term applied to data sets whose size is beyond the ability of commonly used software tools to capture, manage, and process the data within a tolerable elapsed time. Big data sizes are a constantly moving target currently ranging from a few dozen terabytes to many petabytes of data in a single data set.”
“The practitioners of Big Data Analytics processes are generally hostile to shared storage. They prefer direct-attached storage (DAS) in its various forms from solid state disk (SSD) to high capacity SATA disk buried inside parallel processing nodes. The perception of shared storage architectures—SAN and NAS—is that they are relatively slow, complex, and above all, expensive. These qualities are not consistent with Big Data Analytics systems that thrive on system performance, commodity infrastructure, and low cost.”
“The impact of “Big Data” has increased the demand of information management specialists in that Oracle, IBM, Microsoft, and SAP have spent more than $15 billion on software firms only specializing in data management and analytics. This industry on its own is worth more than $100 billion and growing at almost 10% a year which is roughly twice as fast as the software business as a whole.”
As you can see, Big Data is going to continue to grow in the next 5-10 years so the opportunity is ripe for software vendors to come up with big data analytics tools.