World data in doubling every 2 years – Does Big Data mean Big Opportunity?


Big data & the changing role of CIOs in 2013

World information on computer hard drives doubles every 2 years. All big corporations have started to use and benefit from no-sql databases. In today’s hyper-connected world where more and more data is being created every day, Apache Hadoop and mongoDB have created name for itself. We have new job designations as “data scientist” who find value in data that was recently considered useless.

Big data can help drive better decisions

That’s why so many organizations are jumping on the bandwagon—tracking consumer sentiment, testing new products, managing relationships, and building customer loyalty in more powerful ways. It’s all about the business. It has to be.

Many of the early success stories came from lnternet and telecommunications giants and large financial services companies. With so much data generated in the course of daily operations, these companies had no choice but to tackle big data early and aggressively. Companies that don’t generate huge amounts of transactional data may have even more to gain in terms of disruptive innovation. Social networking data, for example, can supplement limited internal data and offer potentially outsized insights into customer relationships, pricing, channel management,
marketing, trend forecasting, and more.

According to Deloitte Analytics:

big-data-benefits

But does big data mean big opportunities? lets find out from this infograph

enterprise-cio-role

Image courtesy: wikibon


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