Feb 4, 2015
Over the past few years, big data analytics has gathered steam, with technology experts focusing on its potential to provide revolutionary and real-time insights. While some organizations have struggled to put theory into practice and achieve actionable results, some experts are predicting that 2015 could be the year big data really takes off.
What is big data?
Big data revolves around the three Vs: volume, velocity and variety. In plain terms, it involves ever-growing sets of information, collected often in near real-time from a diverse range of sources. These massive data sets are stored and processed with tools such as Oracle databases.
Naturally, the accuracy of the data and relevance of the reporting strategy directly influence the value of the results, prompting some experts to add a fourth V for veracity.
Big data projects have been used to drive scientific explorations, evaluate health risks and treatment outcomes, improve operational efficiency, optimize natural disaster responses, anticipate consumer demand, send personalized offers and more.
2015: Big data's big year?
Because of the complexity of big data reporting, research firm Gartner predicted that 85 percent of Fortune 500 enterprises would be unable to leverage big data effectively. However, with refined technology and strategies, that trend might be about to change.
In a December interview with eWEEK, Oracle Vice President of Big Data and Analytics Neil Mendelson predicted that the coming year will be The Year of Big Data in the Enterprise.
Why? Companies are beginning to utilize data resources in a way that differentiates them, drives growth and forms a competitive advantage.
To fuel these big data strategies, organizations will require the right tools and resources. Mr Mendelson anticipated a rise in demand for SQL technology that can work across databases, including Hadoop, NoSQL and relational silos. Additionally, he expects a push for approaches that fuel rapid, on-the-fly processes - building on that V for velocity.
To support these ambitions as well as accommodate growing volumes of data, enterprises may turn to both cloud-based and on-premise services for some of their performance needs. This could include real-time replication solutions that off-load processes and synchronize information across environments in near real-time.