Big Data Analytics - We're Gonna Need a Bigger Bandwagon
How big is this data? Apparently rather big. Now that we have that deep, philosophical question out of the way we can get down to it. We're going to hear that term ad nauseam this year and so with that in mind we set upon filming our show on this topic early in the year.
What is Big Data?
Well, this generally hasn't been the issue with comprehension. Everything is spewing data these days from cell phones, tv's, automotive sensors, smart homes, bridges, buses, trains and factories to name a few. We know the data is here. The volume of data isn't the issue here. That's a tangible, quantifiable mass that can be explained. It's the analysis and management of obscenely large data sets that have started most of the current conversations around this topic.
Data crunching scientists and system architects are being scooped up by startup analytics firms looking to capitalize on this feeding frenzy. A particularly smart fellow and Harvard, Professor Gary King sums it up; "There is a big data revolution. The big data revolution is that now we can do something with the data". We always had the storage, it was just a matter of time before we developed the algorithmic intelligence to process the data in a meaningful and strategic manner.
In India, their 3rd largest IT outsourcing firm Wipro, announced a partnership with an analytics firm, Agnik. Their mandate will be to collect and analyze reams of data spilling out of the connected vehicle industry. This is an example of the machine to machine (M2M) sensor generated data sets that will feed innovation in big data this year.
Angel.co lists 595 startup companies in then Big Data Analytics market with an average valuation of $4.1M. Of these, there are over 1,700 investors. This will only grow as more and more companies innovate new strategies for crunching all this data that seems to emanate from more and more technologies.
A search for big data analytics companies in Google returns over 60,000,000 results with every paid slot filled. IBM tops the most lucrative PPC spot with Google's Big Query also battling for paid clicks.
CMS-Connected Sits Down for Big Data
In one week (click here for the replay) the CMS-Connected panel will once again bear down on exactly what big data means today and how organizations are developing value from the information.
With data stores growing exponentially, will privacy enter our conversation or will we pass over it in favour of marketing and profit with the new breed of 'big analytics'.
What do you think?
Let us know during the show with our Twitter hashtag #cmsconnected.