It should be noted that Big Data and Healthcare will be getting a lot of attention for the remainder of 2014 through to 2015. Besides, the value of various data businesses can be noticed in various components. At times it is due to the ability of data businesses to collect richer data than before, or a combination of it.
Both analysts and marketers view Big Data as the buzzword de jour. One just has to look at the co-founder of Breezometer, Ziv Lautman who went ahead to obtain and decipher huge amounts of data on the quality of our air.
Big Data has recently unlocked a number of Big Opportunities for businesses. Let’s take a look at what exactly Big Data is, what kind of computing power is required and why cloud computing is perfectly positioned to make Big Data projects both possible and cost effective.
Big is of course relative, and while some organisations might baulk at the idea of managing databases in excess of hundreds of gigabytes, others may only start feeling challenged when the data sets reach hundreds of terabytes. Big (or volume of data) is however only one aspect of Big Data. Other factors include the velocity of data coming in and out of the database and the range of different data types that need to be captured, curated, managed and processed within an acceptable period of time.
South Africa is rich with incredible entrepreneurial minds. Consider Rupert Bryant (Web Africa) or Adii Pienaar (WooThemes); both highly successful technical and entrepreneurial people who haven’t even seen their 30th birthdays yet. South Africa is also the most well-connected country in Africa. This powerful combination of infrastructure and talent gives us the potential to make incredible technical and financial advancements, especially if coupled with the unrivalled insight provided by tapping into big data – but there may still be a few stumbling blocks on the road to success, namely stakeholder’s perceptions and regulation with regard to big data.