Big data is big market and big business

2012 Global technology companies in the big Data market revenue rankings (Tencent Science and technology with map)

The big data is now the hottest market in the global technology sector, according to John Furrier, founder of Siliconangle.com, the US Science and Technology blog, said on the Forbes website February 18. For businesses, the sooner they realize and take the lead in opening up to the big data age, the more opportunities they have to innovate, improve their business agility, and increase profits.

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As we have seen, big data is the hottest market in the global technology sector. I've been watching the trend of the market since the big data began to rise, so I'm particularly excited about the recent rapid growth in the big data market. However, there is always a question lingering in people's minds: How big is the big data market?

This week, a report by Wikibon, an Open-source analytics agency, pioneered the market. Wikibon in the report that 2012 global Data factory revenue is expected to be just over 5 billion U.S. dollars.

Wikibon also reported that the global big data market will reach an astonishing 58% per cent growth rate in the next five years (CAGR), up to $50 billion by 2017. This is enough to keep market sceptics clamoring for the sheer hype of the big data market and no real business. Wikibon's report shows that global technology companies, such as IBM and HP, as well as the data-focused companies such as Vertica and Cloudera, are getting a lot of data revenue from mobile devices, sensors, Mass-owned data from social media and other channels translates into real income. With the continuous growth of data flow, the development trend of large data market will continue to go higher.

Currently, large data technologies, including Hadoop, are mainly from the Internet, online gaming companies, large financial services institutions, banks and online retailers. But big data will go in and even go into large and small "traditional" businesses. Even a small, independent retailer can use large data technology to tap social media and other data. This will better understand the consumer's own evaluation, pay close attention to competitive trends, and may even advance the industry potential development trend.

"Big Data is now a new source of competitive advantage for all industries," Jeff Kelly, Wikibon's Big data market analyst, said in the report. For companies, the sooner they realize and take the lead in opening up to the big data age, the more opportunities they have to innovate, improve their business agility, and raise profits. ”

Another aspect of Wikibon's emphasis in the report is that while Hadoop may have become a typical representative of the big data market, there are still other very important technologies in the market. In addition to Hadoop, the open source framework for publishing data is also running on multiple nodes. These open source frameworks include a large number of parallel databases that provide users with high-speed data-reading and real-time analytics services, and allow data scientists and industry analysts to manage the large data by analyzing platforms and applications as well as data virtual tools that extend the end-user's vision through real-time analysis of large data.

So where do these innovations in big data markets come from? Wikibon's report points out: At present, the annual revenue associated with the business created by a major data business is $300 million trillion. Although it accounts for a relatively small proportion of the current market, professional data makers such as Vertica, Splunk and Cloudera are the main forces driving the market to innovate continuously and develop new ways of data management and analysis. Although the data management and analysis market has just developed for several years, it has pushed large data into the world's most popular IT industry.

Wikibon even ranked companies that specialize in large data businesses in terms of annual revenue, which gives us a clearer picture of which vendors are really pushing the market forward.

Specializing in large data business manufacturers in the market annual revenue scale rankings (Tencent Science and technology with map)

Services are more important in large data areas than most other it areas. The reality is that large data technologies, such as Hadoop, need to be equipped with a professional engineering team that lacks such talent. Data scientists are also a much-needed talent in this market because they have the knowledge of mathematics, statistics and computer programming needed to analyze large data. As a result, this provides a very wide range of opportunities for vendors engaged in large data businesses, because they can fill large data technology vacancies with their mature, highly skilled and professional services.

Summary: Big data is big business.

(Editor: Lu Guang)