The Business Impact of Big Data
Many business executives want more information than ever, even though they're already drowning in it.
As companies unveil their quarterly earnings reports, I can't help but notice a common trend: Many are crediting Big Data with their big earnings numbers.
The most recent - oddly enough - was security vendor Symantec, which credited Big Data, along with a "toxic" security environment, with its $165 billion in revenues for the first quarter. IBM, Informatica and EMC pointed to Big Data as either a boost to existing revenue jumps or anticipated growth projects in the near future.
Though analysts warn the Big Data market is still unstable, I thought it'd be fun today to share some stats I've collected on Big Data's costs, adoption and potential.
82 percent. Hadoop users from the same survey who say they can now retain more of their data.
60 percent. Amount Big Data can help retailers improve operating margins, according to a McKinsey & Company report.
$300 billion. Additional value each year for the U.S. health care system, two-thirds of which would come in reduced expenditures, according to the same report.
$165 billion. Amount Big Data could potentially be worth in clinical data, according to a GetSatisfaction.com graph based on the McKinsey findings.
40 out of 4,000. Forrester Research clients who were able to finish a May survey about understanding and using Big Data. Forrester analyst Boris Evelson report that's an unprecedented abandonment rate.
34 percent. Companies using or planning to use some form of Hadoop within 12 months, according to an international survey of 160 executives and IT officers by Ventana Research.
19 percent. Companies evaluating their interest in Hadoop or are already planning to adopt it within two years, according to the same survey.
37 percent. Organizations that told Ventana they'll replace another technology with Hadoop when they adopt it.
1.8 zettabytes. Amount of data the IDC predicts will be created and replicated in 2011.
4,005 miles long, reaching from Anchorage to Miami, and 61 feet wide. Dimensions of the wall you could build if you put that amount of information on 32 GB iPads. FYI: You'd need 57.5 billion iPads, according to the IDC.
140,000 to 190,000. Too few people with deep analytical skills to fill the demand of Big Data jobs in the U.S. by 2018, according to the McKinsey research.
966 petabytes. Data stored by discrete manufacturing companies in the U.S. during 2009. By comparison, McKinsey reports government placed second highest with 848 petabytes of data.
200 million. Pages of structured and unstructured content stored on IBM's Watson, an amount that required four terabytes of disk storage.
$3 million. Hardware costs for Watson, according to Wikipedia. Estimates for the entire project range from $100 million to $2 billion, CNN reports.
$1 million. Amount Watson won on Jeopardy.
5. Or more data sources that Ventana Research says organizations are already integrating, on average - a number that is expected to grow as more applications are delivered as services.