India's IT industry ushered in new: Big data to generate a large number of analysis companies

Lead: Foreign media today wrote that, with the advent of cloud computing and open source software projects, the cost of storing and processing huge amounts of data has plummeted, and the "Big Data" era has come. This trend has not only revitalized India's stagnant IT industry, but has also spawned a large number of companies that make a living.

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"Big Data Age"

Shopping in the U.S. Department store? Surveillance cameras may monitor your movements and do so not because you may be pickpockets. In a few minutes, the aisles you walk through, the products you pick and drop, the things you buy, and the video that captures your expression, will be sent to a company in Bangalore, India.

"We can analyze these data to determine the propensity of consumers to buy goods and their intentions, satisfaction and mood," said Dhiraj Rajaram, chief executive of Mu Sigma, Diragi Rajaram. Mu Sigma claims to be one of the world's largest professional data analysis companies.

Storing, decrypting, and analyzing unstructured data (video, Facebook updates, Twitter messages, Internet searches, and public cameras), as well as massive facts and figures, can help companies improve profits, cut costs and improve service quality, and are now one of the world's hottest industries.

This kind of business is called "Big Data", although some of the big data analysis work in the United States, but India's growing influence in this market, the new growth began to slow the Indian IT industry to inject momentum. One reason big data can be the "next big thing" for India's IT industry is that with the advent of cloud computing and open source software projects like Hadoop, the cost of storing and processing huge amounts of data has plummeted.

Create Unlimited Business Opportunities

"There are hundreds of small data analysis companies in India, and every few weeks I've heard about friends who started their own data analysis companies," said Santosh Nair, founder of Analytic Edge, a Bangalore data analysis firm. "Nathaniel resigned four months ago in an IT service provider's job and founded the analytic Edge. The company, which studies data on pharmaceutical sales and demographic trends, helps a funeral services company in the United States pinpoint the areas where marketing campaigns are launched.

As the cost of data storage and processing business has plummeted, companies are dabbling in the industry, trying to get a slice out of it. "Getting involved in this industry doesn't mean I need a server with a storage capacity of 50TB," Nar said. Cloud computing technology helps me to rent inexpensive storage space. The cost of renting ten terabytes of space per month may be as long as 500 dollars. This is not a big investment. ”

10TB of data is equivalent to about 20,000 hours of CD quality music content. Last year the world's data output was estimated at 1.8ZB, or 1.8 billion TB, equivalent to 200 billion full-length high-definition movies. A report published last year by the McKinsey Global Institute shows that the millions of networked sensors installed in cameras, mobile phones and other electronic devices, as well as increasing data output from social media sites, are the cause of the "data explosion".

The report says the trend has brought unlimited business opportunities to companies: "A new wave of innovation, productivity and growth is on the way, and new models of competition and value capture will emerge, all of which are big data, and consumers, businesses and various sectors of the economy are tapping into its potential. ”

(Responsible editor: The good of the Legacy)