7 Key Drivers for the Big Data Market
I attended the Goldman Sachs Cloud Conference and participated on a panel focused on “Data: The New Competitive Advantage”. The panel covered a wide range of questions, but kicked off covering two basic questions:
“What is Big Data?” and “What are the drivers behind the Big Data market?”
While most definitions of Big Data focus on the new forms of unstructured data flowing through businesses with new levels of “volume, velocity, variety, and complexity”, I tend to answer the question using a simple equation:
Big Data = Transactions + Interactions + Observations
The following graphic illustrates what I mean: