Big Data: An Explosion in Our Digital Universe With Business Opportunities

As websites, banking transactions, online flight reservations, image applications, social networks, mobile devices, apps, etc. are flooding all areas of information and communications, a new concept is born: Big Data. This term refers to data sets that are so disproportionately large that it is impossible to treat them with conventional database tools and analytical applications.

The current explosion in our digital universe is transforming, as the size of Big Data (BD) is constantly changing and growing rapidly. For example, in 2012, it scaled from a dozen terabytes to multiple petabytes of data in a single data set. This increase has generated a large number of contents, requiring new systems and tools for their optimization and protection.

This huge mass of data has become a highly valued currency for businesses, and its economic value is constantly growing. The same is true for the rise in information. However, we must not forget that the effectiveness of BD is directly proportional to the analysis made of the information.

Big Data technology is generally applied in all sectors of society, but especially in critical areas that benefit from this technology in a number of aspects, such as: loyalty and customer retention, because they can create behavior patterns; promotion of new products and services, since they can anticipate the needs of their clients; forecasts and projections, because commercial transactions have also been digitized; and optimizing production and distribution methods, which is where logistics systems come into play.

An emerging market

The figures speak for themselves. A study conducted by Gartner indicates that the so-called Big Data has emerged as one of the ten strategic technologies for the years between 2012-2015, and this tendency is taking place globally. In Spain, for example, MuyComputerPRO magazine published a study performed by IDC Spain stating that the BD market in 2012 is in a phase of emergence. Specifically, the report indicates that currently 4.8% of all the companies that make up the Spanish business sector have incorporated Big Data technology into their business systems, and this number is expected to reach 7.6% by the end of 2012. In fact, the explosion of the digital universe, which according to IDC Spain will reach 2.7 zettabytes by the end of this year, is pushing the needs of organizations to manage, capture and analyze their information.