InfoWorld.com in a recent post, written by Thor Olavsrud (CIO), shows via 10 trends, how “big data is slowly but surely changing the way companies do business.” Here are the 10 trends:
- Machine data and the Internet of Things takes center stage
- Compound applications that combine data sets to create value
- There’s an explosion of innovation built on open source big data tools
- Compound applications that combine data sets to create value
- Companies taking a proactive approach to identifying where big data can have an impact
- There are more actual production big data projects (test-bed projects have been the norm in the past)
- Large companies are increasingly turning to big data
- Most companies spend very little, a few spend a lot. “Tata Consultancy Services found that large companies undertaking big data initiatives are spending a median of $10 million. Twenty-five percent of companies spent less than $2.5 million on their initiatives in 2012.”
- Investments are geared toward generating and maintaining revenue
- The greatest ROI of big data is coming from the logistics and finance functions
- The biggest challenges are as much cultural as technological
