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The Potential of Big Data

By SiliconIndia   |   Thursday, 02 August 2012, 10:08 Hrs
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Bangalore: In the field of analytics, Big Data has emerged as a successor of BI and it is a much talked IT terminology today. It involves working with large amount of data which are either structured or un-structured.  The growth of Big Data has been forecasted to reach $16.9 billion by 2015 with a CAGR of 40% according to the International Data Corporation.

The amount of data has grown exponentially in the past few years making it difficult to manage with traditional database management tools. "The Big Data market is expanding rapidly as large IT companies and startups vie for customers and market share,” said Dan Vesset, Program Vice President, Business Analytics Solutions, International Data Corporation.

McKinsey in one of its study reported that the United States will face a shortage of 1,92,000 data scientists by 2018. The potential in the analytics field will open up many business avenues apart from generating large revenue for enterprises. India, at present doesn’t have many data scientists. However, tech firms such as IBM, EMC and Oracle are associating with universities in India and abroad to provide courses on Big Data.

Here is an infographic from GetSatisfaction that explains the potential of Big Data.

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