What is Big Data?

Personally speaking, the IT industry has finally got exciting again! Why, because we are now living within the digital data age where almost everything we do generates some form of a data trail. Not only do we generate data, but our devices and interactions on the internet are all generating vast forms of data and they are all different types ranging from video, pictures, blogs, voice, tweets etc., to name just a few. The real value for businesses is to make use of data to provide a greater competitive edge or to support a greater level of service fostering loyalty to their brand.

To make good decisions, you need good data and good analytical capability. This is the challenge that most IT Software companies are facing today.  The business of information management, helping companies to make sense of their proliferating data—is growing in leaps and bounds. In recent years Oracle, EMC, IBM, Microsoft, HP and SAP have between them, spent more than $15 billion on buying software firms specialising in data management and analytics (see image - courtsey of Ramon Chen:Cloud 'N Clear). This industry is estimated to be worth more than $100 billion and growing at almost 10% a year, roughly twice as fast as the software business as a whole.