What's happening with Big Data in 2014?
Although several interesting IT trends emerged in 2013, the biggest was likely when businesses became more familiar with the term "Big Data." Perhaps most important, the concepts and ideas that make up the movement were widely commented on by boardroom members and decision-makers; however, many of the reasons for embracing the phenomenon were built around inaccurate perceptions.
That's why people will likely acquire a better and more accurate understanding of Big Data in 2014, according to a report by The Guardian. Currently, organizations are only scratching the surface of the landscape, which is encouraging companies of all sizes to learn more about how the changing volumes, velocities, and varieties of unstructured and structured information will impact their bottom line in the long run.
Still, not all firms have the financial and operational resources needed to invest in full-time data scientists, a role that first gained attention in 2013. For this reason, many organizations will embrace Big Data-as-a-service offerings in 2014, the news source reported. Similar to the way businesses sought cloud infrastructure solutions when they were having trouble maintaining sophisticated on-site IT architectures, decision-makers will consider outsourcing their Big Data processes to make the most of their information management strategies.
Hadoop lookalikes will arrive
In 2013, Hadoop gained a lot of momentum because the open-source framework allows companies to store and analyze large volumes of information, making it the backbone of many Big Data projects, The Guardian noted. Throughout 2014, experts believe that similar open-source solutions will emerge to give organizations a better chance at succeeding with their information storage, management, and analytical projects.
A Transparency Market Research report noted that the Hadoop market is being driven by the business need to manage and analyze the increasingly large volumes of unstructured data being accumulated as quickly as possible. This demand is expected to push the the market toward nearly $21 billion in revenue in 2018, up from $1.5 billion in 2012.
Throughout 2014, enterprises and small companies alike will likely continue their quest toward Big Data glory, which promises the opportunity to improve operations, reduce costs, and gather more insight on prospective and existing customers. By taking the time to understand their specific needs and objectives and aligning those expectations with customized Big Data initiatives, executives will likely experience the key benefits Big Data promises to deliver.
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