Data everywhere! It is being generated every day in various forms through the increased usage of electronic transactions, social media, internet etc. Thus, unlimited information and unlimited levels of process- ing across multiple platforms.
Facts say that the data management and analytics 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. According to the McKinsey Global Institute estimates that data volume is growing more than 40% per year, and will grow 44x till 2020. With the dawn of “Big Data” revolution, more companies grew interested in analytics, entrepreneurs’ showcased innovative ways to push the cost of Big Data down. In 2016 and 2017, the cost is expected to go down so significantly that companies of all sizes will be able to use sophisticated data analytics.
SQL will become the dominant query language for NoSQL Big Data imple- mentations along with more than 100% growth in Hadoop and associated technologies. The global Hadoop market was valued at $1.5 billion in 2012, and is expected to reach $50.2 billion by 2020, according to Allied Market Research.
Big Data and Analytics is gaining importance in India. Speedily enough, it has become solution to every business complexity. Experts also believe that although the Internet of Things—an element of digital transforma- tion—has plenty of potential, it is still in its nascent stage. Big data and Analytics hold the key to unlocking and maximizing its value. Other trends being:
• Self-service big data discovery has become the focal point • Data science, predictive, prescriptive analytics gets merged • Analysts have to bridge gap between doing analytics and being analytical • Smarter thinking about data inclusion • Data governance to gain importance • Analytics will drive customer value