Just mention the words “Big Data” to any technology entrepreneur or investor and observe how his/her face lights up with excitement. Given the perceived opportunity in Big Data, tech entrepreneurs and investors want to capitalize on it by starting /investing in a Big Data Management, Mining and Analytics business. Is this perceived opportunity in Big Data for real or is it a bubble that will burst soon?
I think the perceived opportunity in Big Data is real and is here to stay as Big Data Mining/Analytics will fundamentally change the way business is done not only online but also offline. Here’s why: Big Data is a key enabler for Social Business and without Big Data Mining/Analytics, a large or medium sized company can neither make sense of all the user generated content online nor can collaborate with customers, suppliers and partners effectively on Social Media channels. And both of these activities, namely gaining insights from user generated content online and collaborating with customers and partners on Social Media channels are critical for success in the age of Social Media.
Can you imagine any large or medium sized business without e-Business in the internet age? Similarly, it is impossible to run a large or medium sized business in the age of Social Media without leveraging user generated content or without collaborating with customers and partners. And for this to happen, Big Data Management, Mining and Analytics are critical/key enablers.
Being a key enabler and catalyst in Social Age, Big Data Management, Mining and Analytics companies are going to command a premium valuation and hence Big Data Mining and Analytics has triggered a new ‘Gold Rush‘, not to mine gold this time but something even more valuable – knowledge and insights.
What do you think? Do you agree that Big Data has triggered a new Gold Rush?