The technology cycles of the 1990s and the following decade set the stage for today’s emerging paradigm shift in Information Technology (IT). Old modes of computing, communication and storage are being replaced with “virtual machines”, loosely assembled as “clouds”, which will soon communicate through “software-defined networks” to “distributed” storage arrays.
Big Data, which is also known as data analytics or data warehousing has been existed for years, and has been widely used by airlines, traders and retailers to mine data sets for actionable trends. But with the growth of social networks, cloud computing, digital surveillance video and digital photos, electronic data now takes many forms, and its volume is growing rapidly. Market researcher IDC estimates that electronic data in all its forms is growing 50% per year and appears to be accelerating. Clearly a 50% growth rate is unsustainable, so the opportunity emerging is to mine this expanding trove and distill insights from disparate sources to deliver both improved levels of service and entirely new applications.
One example that entitles such kind of technologies to obtain fast application is software platforms such as “Hadoop.”
It was originally created to assist massive software apps search through huge chunk of data from different origins and various backgrounds. These software apps were firstly developed and tested by companies like Google and Yahoo and their initial function was to upgrade the search engines accuracy. However, due to the generalization of big data, these apps are heavily utilized in all walks of life. One example application is to collect data from social networks like Facebook and Weibo for retail industries like Macy’s and Sam’s Club, which will boost the related discount and coupon offers to specific customer groups.
For the time being, Hadoop is still open-source software designed to run on industry-standard, commodity servers running the Linux operating systems. As we all know, open-source is basically free and hard to capitalize from the products. In addition, it is important to unattach the link of Big Data. The opportunity to build a business around Hadoop is with the applications that run on a Hadoop framework, which may hopefully be similar to Apple’s Eco-System emperor. According to Tier1 Research-a D.C. based IT market research firm, the compound growth in the volume of data has rocketed to near 50%. That said, the industry needs a product like Hadoop to boost the market and hit a home run. Based on the analysts’ consensus, early inceptions are very welcomed and the industry buzz is relatively high, particularly among the venture capital community. To conclude, Hadoop, as an example in this blog for million potential businesses that might cash out by capturing the big data trend, clearly is a hidden gold to usher in a new era of large-scale software applications.
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