Big data is changing everything

Organizations with successful big data analytics can understand what makes their firms tick, allowing them to improve their decision-making down the road. Companies that have scoffed at the idea of this IT trend may want to reconsider the importance of big data, because it is perhaps the most significant development since the internet.

A recent Pittsburgh Business Times report highlighted the significance of the big data phenomenon and how information is virtually "everywhere." Saman Haqqi, program director at IBM, said that big data currently influences many fields, from genomics research to weather forecasting.

"Just the way the internet changed us in 20 or 30 years, big data will change how we live, work and play over the next 30 years," Haqqi said, according to the news source.

Big data is considered crucial for many companies, especially businesses that earn at least $1 billion in annual revenue. A survey conducted by King Research on behalf of Actuate found that more than 25 percent of participants have big data projects in place, while 34 percent are planning such initiatives. The remaining 40 percent have not done either, citing costs and lack of trained staff members as key roadblocks.

Successful big data projects can yield many benefits, according to the survey, including offering businesses a competitive advantage over rivals and more sound decision-making. However, Nobby Akiha, Actuate senior vice president of marketing, said that business intelligence tools and analytics are the key to studying big data.

As more industry research shows the scope of big data, organizations may not be able to afford to overlook the importance of the trend. If big data continues on its current path, it may very well change IT much like the internet did.