The era of big data opened, analysis of the company came into being

Lead: Today, foreign media published an article claiming that with the advent of cloud computing and open source software projects, the cost of storing and processing massive amounts of data has rapidly ebbed and the "big data" era officially kicked off. Not only has this trend reinvigorated India's stalled IT industry, but it has also spawned a large number of companies that rely on this technology for living.

The following is the full text of the article:

"Big Data Era"

Shopping in a U.S. department store? Surveillance cameras may monitor every move you make and do not do it because you might be a pickpocket. A few minutes later, the aisles you walked through, the products you picked and dropped, the things you bought, and the moments that captured your look, would be sent to a company in Bangalore, India.

Dhiraj Rajaram, CEO of Mu Sigma, a data analysis firm, said: "We can analyze these data to determine how consumers are buying their products, their intentions, their satisfaction and their emotions." Mu Sigma claims to be one of the largest professional data analytics companies in the world.

Storing, decrypting, and analyzing unstructured data (ie, videos, Facebook updates, Twitter messages, internet searches, public cameras, etc.) as well as massive amounts of facts and figures can help businesses increase profits, cut costs and improve service quality. Has become one of the hottest industries in the world.

Called Big Data, some of its big data analytics work in the United States, India's growing influence in that market reinvigorated India's IT growth, which started to slow down. One reason why big data can be the "next big thing" in 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 massive amounts of data has dropped dramatically.

Create unlimited business opportunities

Santosh Nair, founder of Bangalore-based data analytics firm Analytic Edge, said: "There are currently hundreds of small data analytics companies in India. Every few weeks, I've heard of friends who founded themselves Data analytics company. "Nasr quit his job as an IT service provider four months ago and founded Analytic Edge. The company looked at data on pharmaceutical sales, demographic trends and others to help a funeral service firm in the United States pinpoint the area where the marketing campaign was initiated.

As the cost of data storage and processing business plunges, companies are scrambling to get a slice of it in this industry. "It does not mean that I need a server with a storage capacity of 50 terabytes," said Nal. "Cloud computing helped me rent low-cost storage, and my monthly rental of 10 TB could cost as little as $ 500 This is not a big investment. "

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

The report said that this trend has brought unlimited business opportunities: "A new trend of innovation, increase productivity, growth is coming, new models of competition and value capture will also appear, all driven by big data , Consumers, businesses and various economic sectors are digging its potential. "

Loss of cost advantage

Because of the transformation of Indian companies into a knowledge-intensive service industry like big data, they are destined to lose some of their cost advantage, which is what helped shape the business process outsourcing industry. Industry insiders believe India's success in big data will depend on its massive IT engineers and its rich experience in the IT industry over the past 15 years as the world's largest outsourcing destination.

Mahinder Mathrani, a partner at Symphony Technology Group, a US private equity firm that specializes in software and services, said: "India's cost advantage is being severely crippled." He pointed out that "big data analytics and talent resources Closer to each other.Excellent statisticians with a wealth of business, analytical and technical skills are not cheap, even in India. "

India's talent pool will have a vast market, with data analytics experts worldwide in short supply in the past few years as the Big Data era. In addition, Indian companies also believe that their expertise in the service industry will help them gain a competitive advantage.

Sundararaman Viswanathan, manager of Zinnov, a software analyst firm in Bangalore, said: "We are a service-oriented country. For example, we have the Internet and have built an outsourced industry around it. We have the ability to build a new type of service that we can use to find the right issues, collect opinions, and feed back to our customers. "

Great potential for development

The National Association of Software and Services Companies (Nasscom) expects the Indian big data industry to reach $ 1.2 billion in three years, six times its current size and twice as fast as the global big data industry. The size of the global big data industry is expected to increase from 8.25 billion U.S. dollars to 25 billion U.S. dollars in three years.

Rajeev Baphna, CEO of Bangalore Data Services Analyttica, said: "India has a very strong advantage in the big data industry due to cost, skills, language and learning ability, etc. India takes full advantage of its unique advantages, Focuses on building your own space in this space, with talent first, and second, the ability to deliver robust, process-driven delivery at a lower cost. "

Not only are small Indian companies now hitting the big data market "gold rush," but even outsourcing giants such as Infosys and Wipro are starting to tap the big data market, though small businesses may have some advantage in this competition. Mahlani said: "Larger and more mature companies face even greater challenges, and their existing business models make it difficult to adapt."

Big data is widely used in the global market. IBM has a 5000-person data analytics team that helps oil companies survey, extract and refine oil more efficiently. GM said in May it will invest $ 1.5 billion to acquire big data analytics companies to tap into multiple data points and find effective ways to extend the uptime of gas turbines, jet engines and other heavy equipment without having to go ahead Occasional maintenance.

Profit increased dramatically

Big data has unlimited potential in the retail industry. According to McKinsey, retailers are able to boost their operating profit margin by more than 60% as long as they fully adopt big data services such as tapping on social media like Twitter and Facebook. Big data is equally promising in health care, insurance, banking and other financial services industries.

For the entire IT industry in India, the advent of the Big Data era will create new growth opportunities for them. Nasscom expects India's exports of software and IT services to grow 11% to 14% in the current fiscal year to March 2013 from $ 77 billion to $ 79 billion, compared with more than 20% There is still a considerable gap between the growth rates.

In addition, outsourcing and offshore services in the financial sector, which make up about 30% of the value of the outsourcing industry in India, have been the subject of criticism, which may face tougher regulation after the recent scandal over offshore operations in India. These scandals include the August U.S. banking superintendency's allegation that Standard Chartered allegedly conspired with the Iranian government to cover more than $ 250 billion in illegal transactions.

However, in the era of big data, people are still optimistic about the prospects of this market, despite the current revenue figures are not large. Rajram said: "We think this is just the tip of the iceberg. The global growth rate will only be faster and faster, so there will be more data, algorithms, applications and new technologies." He said the founding of Mu Sigma is growing rapidly with more than 2,000 employees, with an average age of 25 or 26.

Rajamum finally said: "It's like recruiting a large number of 'Tony Stark' (the superheroes in the sci-fi" Iron Man "), training them to use Iron Man equipment and sending them out to fight crime molecular."