We are experiencing a major shift in the technology world today. It’s the shift from Big Data 1.0 to 2.0. In his post on the Sandhill blog, Ashish Gupta, CMO at Actian, captures the core of the shift in the title, “Big Data: Only for the Privileged.” The complexity and skillset required for Big Data 1.0 has kept many of the initial projects trapped in the lab, with only the elite driving real value from big data and operationalizing the results. Big Data 2.0 removes many of the barriers to entry and opens a window of opportunity for ordinary companies to profit from their investments.
Managing big data is ripe with challenges, but it continues to represent more than $15 trillion in untapped value. New analytics and next-generation platforms hold the key to unlocking that value. Greater accessibility, combined with new platforms that optimize performance for all workloads in the big data system, will drive big data projects into production and greater rates.
There are four undeniable trends accelerating the shift. Understanding these four trends brings light to the current shift taking place from Big Data 1.0 to 2.0, a cataclysmal shift for those who fail to see the shift and take action, a catalyst for those who embrace the new opportunity.
TREND 1: The world has changed.
We now live in the digital age. Everything is made up of bytes and pixels. Billions of devices, sensors, and apps create a constant flow of data. All things digital are now connected by the internet of things. People now use devices with hundreds of apps utilizing all of the sensor technology embedded in the device and creating new data and new patterns just waiting to be discovered.
TREND 2: The world will keep changing.
The only thing we know to be constant is change. Two elements drive unprecedented change. First, the entire world is in flux. We are in unchartered territory and no one really knows what might happen next. Second, technology innovation is exploding on four vectors all at the same time. The internet connects everything, everywhere. Mobile device adoption outpaces traditional desktop and laptop computing. The cloud is taking over the corporate data center. And big data continues to explode. Change will no longer be measured by seasons or eras, it will happen constantly at a much faster pace than ever before.
TREND 3: Time is the new gold standard.
As the speed of change continues to accelerate, time becomes the most valuable commodity. You can’t make more of it, you can only move faster or use it more wisely. Everyone expects instant access and immediate response. Speed becomes an unfair advantage to those who possess it. Anyone who wants to survive in the new age must combine speed with intelligence in order to come out a winner.
TREND 4: Data is the new currency.
You’ve heard it said that data is the new oil, but I say that data is the new currency. He who has the data wins in the end. With the dropping cost of storage and new technology designed to capture, store, and analyze data at ever decreasing costs, companies are holding on to more data than ever before. Hidden in the data are the secrets to attracting more customers and keeping them, shaping their behavior, and minimizing enterprise risk at levels never before possible. The combination of massive amounts of data and new analytic algorithms creates a new global currency, more stable than the dollar or the pound or the yen.
What do these trends mean for the shift from Big Data 1.0 to 2.0? They define the need for a generational shift in technology. They become the prescription for an accelerated platform that scales to handle massive amounts of data and increasing sophistication of analytics. It’s a chasm that can’t be crossed using old software technology forced into new hardware advances. The next-generation of analytics and big data platforms must be accessible to the masses, agile for immediate response, and accelerated at every point.
Stay tuned for Part 2 of the Series on “BIG DATA 2.0 – Cataclysm or Catalyst?”