Santa Clara, CA
Big Data refers to the growing data industry sector built around capturing, storing, processing, analytics, and extracting value from massive databases of mixed and often unstructured data. This is data that exceeds the ability of most existing database systems to handle. It is the science around the proverbial needle in the haystack. This meeting will address how service providers can, and can’t, monetize their data.
How is big data, the breakout hot topic of 2012, different from the decades-old topic of data mining? In short, it's about timing. In 2012, we are offered the cataclysmic union of:
tools, devices, and sensors that can collect a recent explosion in points of data
cheap, affordable, rentable, and increasingly fast (solid state) storage for our data
multi-core processing in highly-scalable and affordable (rentable) platforms
GPU processing for massively parallel computation, but also novel visualization possibilities
On those pillars, innovative software developers have re-visited the art of data-mining and designed new solutions that reveal the hidden secrets inside the data. What's the value of Big Data? A report out this month from Wikibon reckons that Big Data is a $5 Billion today, and is growing to $15 Billion by 2017, representing 58% CAGR. And that revenue is split 44%, 31%, 25% among services, hardware, and software.