With transactional data volumes reaching billions a day, Big Data is a big concern for business. Thus, Big Data is also big business for technology providers working to address the associated requirements, costs and long-term ramifications of the data explosion/deluge. There’s an entirely new market building rapidly around Big Data to address challenges like capture, storage, search, sharing, analytics and visualizing, among others.
A May 2011 McKinsey Global Institute report estimated that nearly all sectors in the U.S. economy had at least an average of 200 terabytes of stored data by 2009 – and that was two years ago and already twice the size of Walmart’s data warehouse in 1999 – per company with more than 1,000 employees. How quickly data volumes have moved beyond gigabytes to terabytes, and they will only continue to increase.
Such large volumes of data used to be generated predominately as a result of human-driven interaction: texting, online retail purchases, stock trades and so on. But in the new digital age, more and more data is now machine-generated. It is this machine-generated data, ranging from Call Detail Records (CDRs) and automated stock trades to smart meter sensors, security monitoring appliances, and test and measurement devices, that is expected to form the bulk of data growth into the future.
To find more information click here: Companies Need To Prepare Themeslves For The Big Data Challenge
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