With data consumption hitting the roof, big players like Oracle, SAP and IBM are vying for top positions in big data processing market. Big data and social network analysis allows these companies to identify individual habits and enable them to understand the vast amount of unstructured data available, enabling them to use the information for improving client/customer satisfaction and business development.
When huge amounts of data are generated, such as data from social networks and also from public spaces, it becomes difficult to process, store and manage it efficiently with the current available resources. This kind of data is referred to as big data.
Even though data consumption in India occurs at a small pace, the numbers churned out are astounding with 40 per cent of companies in verticals like Telecommunications, Media and Entertainment, BFSI and the Government possessing data exceeding 100 terabytes, based on a study conducted by NetApp. The study projects the market opportunity for Big Data solutions to reach $153.1 million by the year 2014, with a growth of annual compounded rate, 37.8 per cent for the interval 2011-2014.
The fast and unstructured growth of data has triggered many organizations to consider methods to manage it through efficient computing as they view it as a revenue generating avenue. Companies like IBM, SAP and Oracle have already embarked on this mission to help other businesses deal with big data.
Major players in Big Data solutions market
- Oracle helps its customers analyze and organize the vast and diverse data using its big data platforms.
- IBM focuses on India and other Asean countries to be potential powerful markets for big data processing and has expanded its big data platform PureSystems by including the PureData System.
- SAP, which has its big data platform as its best selling product, has an in-memory database appliance called HANA which has the capability to process records at a very fast rate. Thee analytics strategy of SAP is highly advanced with it trying to analyze emotions and feelings of the customers from their social networking activity.
Sectors which benefit from Big Data solutions
- Computer and electronics products, financial and insurance companies, Government, Healthcare and Telecom industries are projected to benefit much from Big Data solutions.
- Manufacturing companies use sensors in their products to receive telemetric data which is used for communication, to obtain usage patterns, to deliver security and navigation services, to study failure rates, and to arrive at different opportunities to improve products and simultaneously reduce assembly costs and development costs.
- Also used by advertisers where they take advantage of Smartphones and GPS devices to send alerts to customers regarding the business.
- It can help retailers understand the mindset of the customers, regarding why they rejected a product or who did not buy. This knowledge helps them do their business effectively and improve further.
- Social media sites also heavily rely on big data.
The companies are adapting fast to meet the Big Data scenario with their next aim to equip the professionals with the necessary know-how of the big-data platforms by providing training and certification courses in big data analytics as well as cloud computing in India. EMC Corporation, a NYSE-listed company and another major player in the Big Data processing area, has already chalked out a plan to induct engineering graduates into this field in their first year of graduation itself.