There has been too much debate about the potential of the big data industry as the battle in the world of business continues to intensify. Right now, many companies are already employing big data systems and services in their businesses as they seek to study their customers and markets for optimal production. As resources grow scarce and cost of production increases, companies want to cut waste by making sure the products they produce are fit for the market. Additionally, they want to study the behavior of both prospective and current customers using various avenues, such as social media and search engines.
Many of them are already using Facebook Inc.(NASDAQ: FB) and Google Inc. (NASDAQ: GOOG) to drive their marketing campaigns. In order for Google and Facebook to deliver to their clients, they have to employ big data analytics in order to track the activities of Internet visitors. This has helped in increasing the rate of return on investment in online marketing campaigns by companies.
Nonetheless, this has not come without some critics. There are those who believe that big data (despite its promising outlook) could hit a dead-end. Some argue that the use of big data analytics in determining various characteristics of a certain population are bound to give inaccurate information since it ignores the use of sampling techniques, which can be used to refine data for more accurate information.
Ideally, there is no question about the impact big data analytics is having on various aspects of life, as companies in this industry have already showcased some success. Informatica Corporation (NASDAQ:INFA) is one of them. From security surveillance and information management to cloud computing and "Internet of Things"; all these require big data systems and analytics in order to capture large amounts of data at an increasing speed and in real time.
Worth the Debate?
I think yes and no. Yes because big data is definitely one of the disruptive technologies of the future as far as business operations are concerned. No because I do not agree with the sampled population theorists. As always, critics will be out there, but I do not think this should be such a huge debate. The more healthy debate would be about which companies stand to gain from big data. Is it the social networking giants like Facebook? Search engine masters like Google? This is definitely worth the debate because it entails two of the world's largest companies in their specific lines of business.
I also believe that companies providing various systems that support big data analytics like Informatica and Teradata Corporation (NYSE: TDC) are set to benefit as more companies (big and small) continue to adopt the use of big data analytics in their operations.
The Internet seems to be interwoven in everything we do and as far as businesses are concerned, there is massive data to handle. In order to cull useful information from all that data, big data and analytics systems will have to be employed. I conclude by saying the debate has two perspectives. The critics have gotten it wrong, but there is certainly a healthy debate over who stands to gain most.