March 3, 2014 Comments Off on Big Money in Big Data
Big Money in Big Data
We live in a world of data. Every day, we leave behind tracks each time we send an email, surf the net, withdraw from an ATM and even when we shop. In business, retailers are building databases that record customer activity. Companies working on logistics, financial services, healthcare and other sectors are also gathering more data. On social media, more than 300 million tweets are sent every single day and Facebook uploads more than 2 billion photos each month.
Tech firms are taking advantage of this tremendous wealth of information. This is ‘big data’ and storing and analysing it is now big business. Big data can be stored on cloud servers and it can also be mined and analysed in order to gain insight into consumer behaviour, predict trends and to determine risks.
Analysts have been predicting that this is the next big thing for every enterprise and companies today are rushing to invest big-time as well. Last week, Oracle bought Blue Kai, an online data management startup to strengthen its marketing platform. Blue Kai collects and analyses data gathered from the web and provides insights to advertisers on how they can personalise their online and offline marketing campaigns. In addition, IBM acquired a startup called Cloudant to bolster its growing cloud portfolio. Cloudant is a NoSQL cloud-based database startup that provides a kind of Apache CouchDB hosting and management service to companies.
With big money pouring into big data, we expect to see more investments and acquisitions in this sector in the coming months.
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