Big Data is forecast to drive $34 billion of IT spending in 2013 and create 4.4 million IT jobs by 2015, but it is currently still a solution looking for a problem, according to analyst firm Gartner.
While businesses are keen to start mining their data stores for useful insights, and many are already experimenting with technologies like Hadoop, the biggest challenge is working out what question you are trying to answer, said Debra Logan, VP Distinguished Analyst at Gartner.
“Even banks are not doing Big Data in a production sense, because most of what they've got is pretty well organised and in mainframes,” she said.
“Certainly they're investigating it, they're wondering what it means, they want to learn about that kind of technical architecture and the kinds of methods you use to programme and do analytics on it, but it's still in the early phases.”
Indeed, both Deutsche Bank and HMRC recently admitted that they are struggling to find a way to unravel data from legacy systems to allow integration with newly created big data systems based on Hadoop technology.
Logan said that the most advanced industry sector in terms of Big Data is retail, because of the things it does with radio-frequency identification (RFID), supply chain management and loyalty cards. These, according to Logan, are “real Big Data problems”.
A lot of other industries are simply looking for ways to manage and monetise their data assets - and Big Data is not always the answer, according to Logan. There are plenty of off-the-shelf software programs that can visualise large data sets, and in some cases the best solution may be to simply throw some of the data away.
Click headline to read more--