What is “Smarter Planet”
- A term coined by IBM describing an interconnected world in which we use technology to capture, analyze, synthesize, connect and ultimately benefit from the massive amounts of data we generate through Social Networks, Photos, Geolocation, Business Transactions, Shipping Data, Financial Trading, Weather Analysis, Sciences, Global Politics, Astronomy, Blogs, Twitter, etc.
Capturing Big Data
- What is “The Cloud” and “Big Data”?
- We now have the ability to store massive amounts of data that was not possible just a few years ago.
- Every day, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone. This data is “big data”.
- Massive data warehouses run by companies like Cisco, IBM, and SAP among others.
- Walmart captures more than 2.5 petabytes of data each year – the equivalent of 167 times the information contained in all the books in the US Library of Congress.
- The world’s effective capacity to exchange information through telecommunication networks was 281 petabytes in 1986, 471 petabytes in 1993, 2.2 exabytes in 2000, 65 exabytes in 2007, and it is predicted that the amount of traffic flowing over the internet will reach 667 exabytes annually by 2013. (1 Exabyte = 1 Trillion Megabytes)
Analyzing this data
- Non-relational databases and technologies like MongoDB and Hadoop allow us to store and quickly search large amounts of unrelated data.
- Natural Language Processing is used to sift through human communications.
- APIs (Application Programming Interface) to connect different data sets and applications.
- Intricate algorithms to automatically scan, pull, and synthesize data for us to understand.
- Turn 12 terabytes of Tweets created each day into improved product sentiment analysis
- Convert 350 billion annual meter readings to better predict power consumption
- Data Visualization – how we present this data in interactive and meaningful ways.
Accessing and utilizing this information
- Here we see the cloud again.
- Innovations in the internet and technology provide us with the potential to increase our intelligence and output by producing, interacting with, and utilizing the data of the world.
- Increased internet bandwidth speed up the transmission of data to and from our devices.
- Cloud computing’s roots go all the way back to the 1950s when scientist Herb Grosch (the author of Grosch’s law) postulated that the entire world would operate on “dumb terminals” (i.e. your iPad) powered by about 15 large data centers (which feed information to you via the internet).
Growing industries include:
- Data warehousing, Cloud Computing and Infrastructure, Security, Data Visualization, Data Scaling, Internet Infrastructure, Hardware Innovation, Software Innovation, and Application Development.
- Wikibon released the first market forecast for Big Data, listing $5.1B revenue in 2012 with growth to $53.4B in 2017
- Oracle, IBM, Microsoft, SAP, and HP have spent more than $15 billion on software firms only specializing in data management and analytics. This industry on its own is worth more than $100 billion and growing at almost 10% a year which is roughly twice as fast as the software business as a whole.