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Description: Big Data is attracting big money — $100 million at Accel Partners, the VC firm.

“Big data is one of the biggest transformational changes in the data center and IT landscape,” said Ping Li, a partner at the VC firm Accel Partners, which is running a $100 million Big Data fund. “It happens once in a generation,” he told the audience at a Churchill Club panel in Silicon Valley.

Source: GlobeandMail.com

Date: Jan 6, 2012

And just what constitutes Big Data? After SC2011, the US supercomputing conference in Seattle in November, Addison Snell, an industry analyst, blurred the lines a bit in a podcast with HPCwire.

“There is small Big Data just as there is entry level high performance computing,” he said. Someone who has worked in gigabytes and now has to work in terabytes is dealing with Big Data, added the CEO of Intersect360. “It’s relative to the infrastructure you had before.” It may incorporate complex event processing, data mining and complex real-time analytics. Big Data can have many elements — large files, large volumes and real-time I/O within a short data life span. Every vendor at SC2011 was talking about big data, agreed Nicole Hemsoth, editor of Datanami.

Or to put Snell’s observation another way, Big Data breaks existing systems and ways of working. Read Rest of Story

Questions for discussion:

1.  What is meant by Big Data — Big Money Says It Is A Paradigm Buster?

13 Responses to “Big Data — Big Money Says It Is A Paradigm Buster”

  1. Laura

    The article “Big Data — Big Money Says It Is A Paradigm Buster” is about a $100 million dollar Big Data Fund. The fact that it is expected to grow 800% of the next five years alone proves the vital role that this Big Data Fund has the potential to play. The level of data, in my lifetime alone, has climbed incredibly. For instance, I remember when memory cards used to be 256 MB, and now they are making them over Gigabites. Big data helps to improve the ways that existing systems worked and virtually replaces them. They are playing on the fact that people already know how to use data, but are having the need for even greater amounts of space. They say that big companies are already catching onto the benefits of big data, and that traditional users have already become comfortable with it. They have claimed that people underestimate how much “big data” can change their business. The whole premise of “big data” is at a stage where early innovators are still out there. I think that this is a goldmine because of the potential that developers can gain in this market. Right now, anything technology related seems to have massive potential in the marketplace.

  2. XiaoYu Li

    Business users don’t want to be forced to have to take every need to the IT. Big data adds several new high-volume data sources to the information supply chain. Several new and enhanced data management and data analysis approaches help the management of big data and the creation of analytics from that data. IT organizations are spread thin and face an exploding amount of new needs and technologies-big data. High-performance database can help both improve efficiency and enhance customers analysis. IT can build a strategic database like retail analytics foundation. Business users can explore, visualize, hypothesize and test hypotheses and put innovative ideas into action — using science to help merchants know and engage customers. these “big data” can help company turn the pure data to actual capital.

  3. Carlos Villacres

    Big Data – Big Money Says It Is A Paradigm Buster;

    The big data system can improve the analysis of problems, could be for students who can make samples in order for solve the problems, also can improve the technology in the science, in the medicine for try to track the issues of the patience’s, biologic s and more. All of the issues associated with working memory, processing speed, and storage space. This system can mean a big change in the use of information technologies applications used to decide, or give suggestions to the managers, in order that can work with algorithms, that influence in the decisions. The core business of big data is when companies or managers of this companies don’t know what to do with a lot of quantity of data, when the companies don’t know how to collect, analyze and decide the properly decisions with the correct data can be the worst situation for a company in the actual moment. When a organization have massive problems, with a lot of data to collect, analyze, examine and without the best resources for do it, is a huge challenge to the managers solve this issues but with Big data is going to be a successful tool to resolve massive problems in the companies.

  4. Fehren Tuttle

    The article “Big Data — Big Money Says It Is A Paradigm Buster”, this particular article talks about how “Big Data” has become one of the biggest transformational changes within the landscape of IT systems and users and it only happens once a generation. It is meant that users who used to only deal with gigabytes are now dealing in terabytes, which is quite a leap forward. This proves that the amount of data is growing and this data needs to be made into usable data for companies and individuals. This data can be in any format like files, documents, large files and large real time data. Basically, this article shows that since there is quite a large amount of data to be analyzed the potential for this data is also greater. Meaning, that more can be used and deducted from this data. Certain industries are already using “Big Data” however; there is now a switch to be able to use this data for mobile-social users where they can now add geo-location ideas as well. Right here they are generating a market for this “Big Data” which will either enable businesses to do better or flop. Even part of the article states that this is just a fad. Is it really? I feel like this might not be a fad because of how our economy and knowledge has changed within just even the last 20 years. However, it could be a fad because if it only happens once a generation then it could fade out till the next generation hits.

  5. Ben

    In business statistics you are taught that rarely you will ever know the population mean and standard deviation. This is because its costly and sometimes impossible to collect it before it changes on you because of this all you have to rely on is sample to make your decisions and though we can use these samples to at times make very accurate and confident decisions it is still never as good as if you have the actual information. Bid Data is much like this, people hand companies have been relying on sample or part of the equation for years and have always had to make decisions on it. But with big data the information is at your finger tips and if your able to use it the decisions that you make will be much more clear. This will give companies a huge advantage over those who do not use it. For example if you make an investment hoping that gold will be worth $1000 an ounce your taking a risk but if you could know for sure that it would be $1000 there is no risk. Now Big Data will not tell you the future price of gold, I wish but it portrays the point that is can make business much more effective.

  6. Darren H

    “Big Data — Big Money Says It Is A Paradigm Buster”

    I wasn’t really sure what this article is getting at. I agree that the types of data storage in the past few years have increased significantly. I remember first learning about computers in elementary school when we used 3-inch floppy disks and thought those were pretty cool. Then as I moved into junior high, zip disks were the new fad. Much more storage capacity then what a floppy could provide. Re-writable disks/DVDs made their mark in the storage market and I believe that they are still widely used – I know I still use them to back up music purchases. And now that I have finished college and started university a new way of data storage has emerged – the flash drive with storage capacities from 2 GB all the way to 64GB and climbing.

    This article states that Big Data is a $100 million industry that is predicting will grow 800% in the next five years. This is definitely an industry to get into since there is a lot of potential money makers. Big Data has made computing these days easier. For example, the use of flash drives is a must in anyone’s university or college career. They help transport important files and documents, are a key source to backing up a small business’s finances, and are very good at backing up personal files or pictures from computer to computer.

  7. Deidre

    In reference to the article “Big Data – big money says it is a paradigm buster” was hard for me to comprehend. I wasn’t quite sure what exactly the writer was getting at other than to say the way data is being used and stored has changed. The people working with this data need to adapt to the changes being made in this industry. The article suggested to me that some IT professionals in the field are having problems adjusting to the sheer volume of data large companies in the retail and business sector are currently using. Health Care has been lagging behind in the technology of Big Data but are slowly adapting to the changes necessary to remain competitive. With customer service being of the utmost importance to any business model, companies need to know how to use and store their data in a convenient and secure manner. Hiring IT professionals capable of working with Big Data comes with a price. There is a specific skill set required to deal with Big Data and these professionals are in high demand. Those entering this field in the future need to be highly specialized and trained as many companies’ records and big data will come to depend on their expertise.

  8. Jonathan Mpere

    The whole story about big data is amazing how the world is transforming in an alarming rate of technology. Yes, I think I will sure buy the idea of “big data” – “big money” because the more data you have the more money you will be attracting. Big data being one of the biggest transformational changes in the data center and IT landscape will surely affect the world of technology in a way that will lead to expansion. I do believe that big data will fundamentally change the way business works but on the other hand I feel technology has grown in an advance rate that, no matter how this big data will change existing way of doing things in the business industry it can still be integrated, meaning that it will make things better rather than destroying the existing once. The earlier the world embrace the big data concept the better because technology is running at a faster rate than the world expects it to move and by so doing we should not wait till we get to the point where normal data users cannot compete or operate with those with big data just like Rajaraman sighted example in the article about the early days of e-commerce, and the impact it has on the world today. I do agree with Accel’s Li that big data should be a global phenomenon.

  9. steven osmond

    This article “big data-big-money says it is a paradigm buster” just stated a whole lot of things that people already know. There is no new revolution of data. People don’t want different things from their data than they did hundreds of years ago. Business wants information to run smoothly and maintain stability. Our problem has always been that we never had enough information. Having more information is not the problem, what is the problem is that we are trying to accommodate new technology and systems that can organize this data into useful groups relevant to each business or personal use. But even this is not a major problem in my eyes. What I see is an evolution of data systems, new ways of storing, organizing and evaluating data. Analysts use algorythms and systems now to estimate true data. But these estimates are much less useful than the true information. For example marketers want to know the average money spent by the baby boomer generation on smart phones. But knowing the true average is almost impossible. However if able to process larger amounts of data they’re estimates will become more accurate and therefore more useful. Big business needs this ability to use big data

  10. adrian sackey

    Big Data – Big Money Says It Is A Paradigm Buster

    Companies today use various data collection techniques in order to gain a better understanding of their customer base. By analyzing this information companies can target their most loyal customers and customize products/services for that group. Big data can also be used in health care and science industries, to help create a more accurate picture of underlying problems. In the case of healthcare, the more information that is collected about a patient and is analyzed, the more accurate a doctor’s prognosis and the more beneficial the treatment prescribed for the individual. With storage capability growing exponentially we are able to save vast amounts of information, which may hold insight into many current issues or problems. When it comes to making breakthroughs in science, the amount of information that can be analyzed is key in trying to find solutions. By harnessing big data and analyzing through increased processing power, major breakthroughs are not a matter of if but when.

  11. Bolaji Akinbobola

    “Big Data — Big Money Says It Is A Paradigm Buster”

    Big Data is attracting big money. I believe it is true, because studies show how the present interactive environment is relying on technology to function daily in all aspects of activities they engage in. Data use is very important today, it is used for different research findings and it can even be applied to decision making from Structured to unstructured. Presently with the development and introduction of application software programs used by almost every company to make strategic plans, data will always make big sales. Big data will always attract big money because it is a new developed technology which breaks existing systems and ways of working. There are a lot of potential users who will need the Big data to function effectively and efficiently in their products or services offered in the market place. With all these factors in place, Big data will make lucrative profits because in today’s competitive market it will be highly needed and used by corporations, companies, etc. to function systematically in their activities.

  12. Lauren R

    The article “Big Data — Big Money Says It Is A Paradigm Buster” addresses how Big Data is the change of a generation in the data center and IT landscape. It’s already affected the retail/telecom/intelligence industries. According the article, the next big set of big data users are in the mobile-social industry. This access to Big Data will benefit users by expanding amount of information that is available at their fingertips.

    On the flip side, the mobile-social industry’s access to our Big Data creates some concern. As Facebook (the largest social networking site) becomes a publicly traded company, they will have revenue and growth accountability to their share holders. Facebook’s largest asset which has yet to be fully utilized is its members and their data. Already users are being marketed to based on their age, location, and previous searches. Access to Facebook’s members and their Big Data is any commercial industry’s dream come true. It would be the most effective personalized selling method imaginable. Someone would log on to Facebook and instantly see ads and pops ups based on who they are, what they want, and what they are going to want in the near future.

    Let’s hope that Facebook never becomes profit driven user’s Big Data could be used against them.

  13. Mohammed Binmadhi

    Big Data, which is running a $100 million Data Fund, is being described as the biggest thing to happen in a generation. As the world economy resurrects and growth continues, the need to store data will gain immensely. The infrastructure is changing so as the IT landscape, and as different industries incorporate a whole lot of complex data processing, complex real time analytics, the demand for Big Data seems to grow bigger. It will incorporate even Health services as patients are beginning to demand more information. As Ramarajan states, the analysis of data is becoming more and more important in any science and as the world becomes more dependant on data, the need for Big Data is going to increase exponentially.

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