Big data has become “Bigger” as it has changed the way companies do business. For the preponderance of 2013, big data has been the big buzzword and has dominated the business fraternity extensively as businesses of all sizes were able to make sense of what exactly big data is and more importantly how it can help their business operations.
One of the emerging trends of 2013 was the realization that all types of IT organizations have value locked in their data and to unlock the value hidden within one’s data, one must have the access to the data. This means that the data needs to kept for a longer duration and should be accessible to users anytime.
In the upcoming year big data will be playing a more crucial role for the businesses as it will reinforce novel ways of innovation and business development and therefore business leaders will have to cope with the changes that big data will bring in their business. The C-suite will need to reconsider their data so that they can make best use of their data and address the issues of more data. The coming year will make big data more mainstream and the year will see trends really take root across all sorts of IT organizations. While the revenue side, competition will encourage IT organizations to find ways to turn data into additional revenue streams, the expense side, IT organizations are going to find that an OPEX model of BaaS/DRaaS is really, for the first time, quite feasible.
With more and more data exploding every minute, the best way to deal with it is to take the tiered storage approach. This will bring down the encumbrance of managing humongous data and will also help in dealing with it in a more effortless manner. Another trend which seems to bring in a new perspective is the three V’s – volume, velocity and variety which will continue to grow at an exponential rate in 2014.
According to us, we are at the edge of the second chapter of big data analytics. The first chapter was more about investing in the technology to harness the understanding of big data and the second would be using that big data to generate quick revenue for the business.
IDG Research has come with a report which shows that the majority of business leaders believe big data will help them make more informed decisions and would enable them to identify the time and cost involved along with the ROI that they can expect. This designates that the business heads should now start deploying big-data enabled solutions rather than big data as a solution. This clearly indicates if businesses leverage big-data enabled solutions at the required scale; it will help the businesses to drive better and quicker results.
In a nutshell, in 2014, businesses will be integrating more of analytics in their key business operations and are likely to become more data driven. So, the business heads are predicted to brush up their emphasis on using big data at a more extensive level in order to drive their business operations in a more seamless manner.
Jim Simon, senior director of Marketing Quantum Asia-Pacific