By BRIAN DEAGON, INVESTOR'S BUSINESS DAILY
A survey of 105 chief information officers by Piper Jaffray found that large and midsize companies are mostly relying on Microsoft, Oracle and IBM as key suppliers for their Big Data initiatives.
Big Data is a term used to define how companies are looking to collect and comprehend massive inflows of information coming from a proliferation of relatively new sources. Consumers are creating more data with things like smartphones and their use of social networks like Facebook. The expansive use of e-commerce sites like Amazon.com, along with more remote data collection devices, are adding to the flow. The amount of data produced last year passed 1.8 trillion gigabytes, double the amount from 2009. And that will swell 50% in 2012, says EMC, as IBD recently reported.
Businesses spent more than $4 trillion in the past six years to handle the data explosion, says research firm IDC.
The Big Data trend has led to a new surge in spending on technology and services to understand what to make of it. Revenue specifically targeting Big Data is projected to reach $17 billion in 2015 from $3 billion in 2010, says IDC. Much will focus on analytics technology to manipulate, analyze and model complex data to derive intelligent solutions.
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