Unless you have been living under a rock in the ocean, on another planet, within another galaxy, you are aware of the tidal wave of technology advancements that have been occurring since the arrival of the personal computer and the internet.

These two concepts have revolutionized nearly every aspect of life today. In the business world, companies have been created, and destroyed, but ultimately have achieved a higher level of efficiency with technological tools.

Amidst this rise of technology, information has become even more valuable as business’ and mathematicians begin to find relationships  between different metrics that are collected internationally from a multitude of industries. Thus came the concept of Big Data.

Big Data is a fast paced industry emerging from the collection and analysis of information. With low barriers to entry, many small start-ups are emerging to provide different angles of the Big Data service.

Considering that over 70% of IT investments from firms go to waste, is this new pursuit of Big Data desirable?

I believe the understanding of new relationships found within this new industry will ultimately be beneficial to large corporations  by allowing them to make better decisions. This is extremely important where one small decision can have massive effects on revenue.

Sources:

http://readwrite.com/2013/11/11/whos-getting-rich-in-the-big-data-gold-rush?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+readwriteweb+(ReadWriteWeb)#awesm=~omWKP0AL438Qhy

http://www.marketwatch.com/story/is-big-data-gaming-mutual-funds-2013-11-11