Like Dot com Bubble in 2000. and companies involved in Information technology and service providing through internet reached their peak and mostly start up, who and their investors who pushed in the product in anticipation of Too Much return, and the start ups used up all their cash resulted in majority of the dot-coms ceased trading after burning through their venture capital, many having never made a profit. Investors often referred to these failed dot-coms as “dot-bombs”.
The Current “BIG DATA” is the child of same dot com revolution, Many applications driven through internet over the ages bring the internet more a fun place than a serious IT Stuff. The current status of the internet access through handy and affordable devices like Mobile Tablet, laptop along with social media apps, which has given data generation power to millions of world population.
Since Data is the information, any technology which could drive such activity of storing, analyzing, and making sense out of that has become a part of this BIG DATA drive.
Social media is more of a qualitative data than Quantitative (Conventional data). Making sense out of Qualitative data is far more complex than quantitative data, specially when it’s in TB and GB of data size.
Above all the major question is, how far the big data could be accurate in supporting the business judgement and in turn their Strategy.
Start ups mushrooming, all across the globe joining the Big data race, but market is still immature in terms of ROI on this technology, and a structured and simplified approach.