Big data is now in an incredibly important part of how many major businesses function. Data analysis, or the finding of facts from large volumes of data, helps businesses make many of their important decisions. Companies that conduct business on a national or international scale rely on big data in order to plot the general direction of their business. The concept of big data can be very confusing due to the sheer scale of information involved.  By following a few simple guidelines, even the layman can understand big data and its impacts on everyday life.

What Exactly is Big Data?

Just about everyone can understand the concept of data. Data is information, and information is everywhere in the modern world. Anytime you use any piece of technology you are making use of data. Anytime you read a book, skim the newspaper or listen to music you are also making use of data. Your brain interprets and organizes data constantly from your senses and your thoughts.

Big data, much like its name infers, simply describes this same data on a large sale. The internet allowed the streaming, sharing and collecting of data on a scale never before imaginable and storage technology has allowed ever increasing hoards of data to be accumulated. In order for something to be considered “big data” it must be at least 10 terabytes or more of information. To put that in perspective, consider that 10 terabytes represents the entire printed collection of material in the Library of Congress. What’s even more remarkable is that many businesses work with far more than the minimum 10 terabytes of data. UPS stores over 16 petabytes of data about its packages and customers. That’s 16,000 terabytes or the equivalent to 1,600 printed libraries of congress. The sheer amount of that data is nearly impossible for a human to comprehend, and analysis of this data is only possible with computers.

How do Big Data Companies Emerge?

All of this information comes from everywhere on the internet. The majority of the useful data includes customer information, search engine logs, and entries on social media networks to name a few. This data is constantly generated by the internet at insane rates. Specified computers and software programs are created and operated by big data companies that collect and sort this information. These programs and hardware are so sophisticated and so specialized that entire companies can be dedicated to analyzing this data and then selling it to other companies. The raw data is distilled down into manageable reports that company executives can make use of when handling business decisions.

The Top Five:

These are the five biggest companies, according to Forbes, in the business of selling either raw data reports or analytics programs that help companies to compile their own reports.

1. Splunk
Splunk is currently valued at $186 million.  It is essentially a program service that allows companies to turn their own raw data collections into usable information.

2. Opera Solutions
Opera Solutions is valued at $118 million. It serves as a data science service that helps other companies to manage the raw data that pertains to them. They can offer either direct consultation or cloud-based service.

3. Mu Sigma
Mu Sigma is valued at $114 million.  It is a slightly smaller version of Opera Solutions, offering essentially the same types of services.

4. Palantir
Palantir is valued at $78 million.  It offers data analysis software to companies so they can manage their own raw data analysis.

5. Cloudera
Cloudera is valued at $61 million.  It offers services, software and training specifically related to the Apahce Hadoop-based programs.

The software and services provided by these companies impact nearly all major businesses, industries and products. They impact what business offer, where they offer them and how they advertise them to consumers. Every advertisement, new store opening or creation of a new product is at least somewhat related to big data analysis. It is the directional force of modern business.

Sources:
http://www.sas.com/en_us/insights/big-data/what-is-big-data.html

http://www.forbes.com/sites/gilpress/2013/02/22/top-ten-big-data-pure-plays/

http://www.whatsabyte.com/

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How to Keep On Top Of the Latest Trends in Information Technology

It’s befuddling when you think about how many ways there are to communicate in 2013. I’d say there are too many new ways to communicate – social media, phone, Skype, instant message, text message, email, it goes on and on. But do any of them outweigh the power of a good old-fashioned face-to-face meeting? Most business executives would argue no. Nothing can replace a face-to-face meeting, at least yet.

That said, face-to-face meetings are without question the most expensive kind, given the travel costs required to make them a reality, and companies around the globe have been trying to make them more financially manageable ever since the recession set in. But recession or no, face-to-face meetings are rarely in the budget cards for small businesses. So how can entrepreneurs around the globe get more out of their virtual meetings while ensuring any physical meeting is worth the cost?

Globalization
Globalization is the fundamental force changing IT service delivery and business's competitive activities in almost every vertical market — and thus economies — in some way, shape or form. One might say that globalization is not a new trend and has been commonplace for quite some time now. Yes, but with the changing economic environment globalizations has special implications for the IT outsourcing industry. With developed countries like the U.S. keeping a strict eye on generating local jobs, IT outsourcing especially in Asian countries such as India and China is expected to see globalization brining in big shifts in business strategy

Potential Impact of Globalization

·         Increase in near shoring in addition to outsourcing. Near shoring essentially refers to existing IT companies setting up development/delivery centers in Nordic and South American regions in order to offer same time zone services and also bypass the laws governing local hiring

·         A truly global delivery model. Service delivery models will have to become more efficient and flexible and work well even if service teams spread across continents

This will mean that large IT outsourcing companies such as TCS will have to expand their presence globally from just having sales offices to actual delivery teams shipping out solutions.

It is said that spoken languages shape thoughts by their inclusion and exclusion of concepts, and by structuring them in different ways. Similarly, programming languages shape solutions by making some tasks easier and others less aesthetic. Using F# instead of C# reshapes software projects in ways that prefer certain development styles and outcomes, changing what is possible and how it is achieved.

F# is a functional language from Microsoft's research division. While once relegated to the land of impractical academia, the principles espoused by functional programming are beginning to garner mainstream appeal.

As its name implies, functions are first-class citizens in functional programming. Blocks of code can be stored in variables, passed to other functions, and infinitely composed into higher-order functions, encouraging cleaner abstractions and easier testing. While it has long been possible to store and pass code, F#'s clean syntax for higher-order functions encourages them as a solution to any problem seeking an abstraction.

F# also encourages immutability. Instead of maintaining state in variables, functional programming with F# models programs as a series of functions converting inputs to outputs. While this introduces complications for those used to imperative styles, the benefits of immutability mesh well with many current developments best practices.

For instance, if functions are pure, handling only immutable data and exhibiting no side effects, then testing is vastly simplified. It is very easy to test that a specific block of code always returns the same value given the same inputs, and by modeling code as a series of immutable functions, it becomes possible to gain a deep and highly precise set of guarantees that software will behave exactly as written.

Further, if execution flow is exclusively a matter of routing function inputs to outputs, then concurrency is vastly simplified. By shifting away from mutable state to immutable functions, the need for locks and semaphores is vastly reduced if not entirely eliminated, and multi-processor development is almost effortless in many cases.

Type inference is another powerful feature of many functional languages. It is often unnecessary to specify argument and return types, since any modern compiler can infer them automatically. F# brings this feature to most areas of the language, making F# feel less like a statically-typed language and more like Ruby or Python. F# also eliminates noise like braces, explicit returns, and other bits of ceremony that make languages feel cumbersome.

Functional programming with F# makes it possible to write concise, easily testable code that is simpler to parallelize and reason about. However, strict functional styles often require imperative developers to learn new ways of thinking that are not as intuitive. Fortunately, F# makes it possible to incrementally change habits over time. Thanks to its hybrid object-oriented and functional nature, and its clean interoperability with the .net platform, F# developers can gradually shift to a more functional mindset while still using the algorithms and libraries with which they are most familiar.

Related F# Resources:

F# Programming Essentials Training