Are You Up To The Challenge? Seizing Big Opportunities In Big Data
Big data has captured the tech world’s attention with the market expected to grow over $34 billion dollars in worldwide IT spending, but what exactly is the value? A new generation of technologies is leaving solution providers with a challenge to understand what this big data value is and what it means to their clients. As more organizations invest in new technologies as well as services that are purpose built for big data, the potential for the market to grow is limitless and some solution providers are already breaking into this. By helping organizations apply big data and building custom applications, the challenge is not for the faint of heart but can result in big payoffs. “Much of the buzz surrounding big data is there because it’s new. So new, in fact, that many organizations don’t really understand what the term means or how big data technologies — be it the open-source Apache Hadoop framework, NoSQL databases or new analytics tools — can drive value in their organizations.”
One of the biggest opportunities for big data is by helping customers determine big data use cases. Determining which analytic tools and how to use them is the basis for a broader, bigger, data strategy. “In addition to defining use cases, the technical complexities introduced by big data present an opportunity for solution providers. Some organizations, for instance, are looking to adopt new data management and infrastructure technologies to handle the “three V’s” of big data — the velocity, volume and variety of the unstructured data at their fingertips.” New data coming from social media sites and mobile devices can’t be optimized with a traditional relational database. Looking for next generation technologies is another opportunity to provide a more scalable and distributed data storage that gives solution providers the opportunity to implement and train their clients. Big data is also a driving force behind cloud-based storage systems that offer more flexibility and availability to handle large, unstructured volumes of data.
Data management and storage is taking a large chunk out of big data, but opportunities in analytics can offer up another sweet spot for solution providers. The idea of connecting-the-dots between big data and business value will allow the business or client to make proactive rather than reactive decisions. “The real promise of big data is really to start automating a lot more of the decisions in the business — it’s not a supercharged business intelligence model, and it’s not a model of creating dashboards on bigger data sets so people can make manual decisions,” said Ron Bodkin, founder and CEO of Think Big. “It’s about ultimately building predictive models that automate response and going from one-off decisions to a process of continually improving those decisions.”
From creating custom applications to investing in new partnerships, the opportunity for big money in big data is there and waiting for providers. Taking the big risk is not for all but, understanding and profiting from it will be worth the risk. To continue reading about more opportunities service providers can take advantage of and the full article from CRN, click here.