The idea of Big Data is obscure for most people. In fact, most people are not sure what exactly it is. Nowadays, it has been said that the hype of the so-called buzzword is coming to an end. Is this really true? If you want to know more about Big Data in relation to its hype trend, then you have come to the right place as this article is going to cover the subject.
Big Data Overview:
As mentioned before, the exact definition of Big Data is elusive to most people. However, the idea of Big Data is a process of going through and analyzing huge amounts of data sets. The main purpose of combing these huge data sets is to uncover any information that could help in the decision making or uncover certain patterns that are not yet known in the past.
For an example, Amazon.com is able to comb through and analyze through their data that they are able to gather from their customers and from that they can recommend you with products that has a high probability that will also like.
Or, health care providers can dig through the personal records of the patient and set it against large data sets to find the best individualized treatment for a specific patient.
With the potential impact of Big Data, it's no wonder that a lot of startups and big companies consider that Big Data is the next big thing within the tech sector.
- The Obscurity Factor:
Despite the potential applications of Big Data across a multitude of industries, the concept is still considered a largely obscure concept. In fact, Big Data has a hard time rolling-out to a much wider industries aside from highly data-driven and tech sectors. This is where things get complicated. Depending on who you ask, you will either get an answer of "its hype" or "it’s not hype anymore", some will even say "don't know what Big Data is all about".
The Hype Factor:
Asking different people may not be the best source for opinions about Big Data hype. So let’s move to what professionals say about the concept.
According to the studies done by Gartner, Big Data has still a long way until it arrives to the "Plateau Of Productivity". According to professionals, there are 5 stages of the Hype Cycle.
Stages of Hype Cycle:
- Innovation Trigger
- Peak Of Inflated Expectation
- Trough of Disillusionment
- Slope of Enlightenment
- Plateau of Periodicity
According to Garner, at the moment, Big Data is entering the stage known as the Trough of Disillusionment. This was an improvement from the last year, which puts Big Data under Peak Of Expectation. Nevertheless, Big Data has just entered the stage of Trough of Disillusionment, which means it still largely hype.
How Big Data is accepted and implemented across different industries largely varies. Talend, a Big Data solutions provider, reported that the Big Data has seen a growth of 40% last year within different organizations. However, when it comes to large-scale implementation of the data mined, only a mere 10% of the companies are implementing it.
According to Talend, the biggest reason behind this large discrepancy is because there are a lot companies out there that are interested about the concept of Big Data. However, when it comes to taking the plunge and actually implementing the concept, it’s an entirely different story.
One of the main reasons for this large imbalance between realization and implementation is because of the corporate culture. In most cases, the larger the organization, the slower it adapts to changes. Also, there are certain industries that are naturally slow to adopt new concepts such as heavily regulated industries such as energy, aerospace, medical and defense.
Another reason is the cost of a mistake. Implementing Big Data concept takes inertia for an organization to change. The cost of making a mistake with Big Data is too high for anyone in most cases. As a result, hardly anyone would want to stick their necks out, especially considering that most of these decision makers do not have an exact idea what Big Data is all about or some think its just hype.
Also, the data-driven decision making culture is not a common organizational culture, especially with "traditional" organizations. Some organizations have their own way of making a decision, and it’s not all driven by data.
Another reason why the implementation of Big Data has seen some difficulty in companies is because of the need to do something "big" or increasing the bottom lines for the quarter or the year. This short-term growth mentality of companies can impede with long-term sustainability. And let's face it, when it comes to Big Data, there is little to show for when it comes to short-term growth.
However, everyone in the business world knows that investing for the future is one way to ensure the longevity of any business. That is why there are a couple of traditional organizations that are starting to adopt the Big Data concept. In fact, some of the energy companies are already starting to entertain the idea.
As of now, the strategy of Big Data solution providers is to make an example of existing cases. To speed-up the implementation of the Big Data concept, they are intending to make an example of existing companies that have already adopted the concept and show the many benefits that could attain by incorporating the system.
According to the chart, Big Data has already passed the peak of the hype and more and more companies are entertaining the idea of the practical applications of Big Data.
Big Data is a concept of combing through large amounts of data sets to uncover patterns or information that was not yet attained before for the main purpose of increasing productivity or for making better decisions. According to Gartner, the Big Data concept has passed the peak of its hype and it’s slowly moving to the area where companies are starting to realize its practical application.