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Is Big Data Expensive?

There are a lot of open source analytics tools available that every user can easily find on websites. But to make appropriate use of such tools each company requires equally compatible skills. So companies are required to invest heavily to develop such skills and also on collecting data. It has been found that companies are spending on an average of $7.4m on data initiatives in 2015. Free platforms also took huge investment such as Hadoop, making more efficient systems. The increasing data size led to increase in expenditure, and is likely to increase in future. Upgrade is required in currently installed systems to process huge data in less time. On the other hand huge investment is required to meet the heavy salaries of data scientists, which is approximately $118,000m. As the supply of qualified data scientists increase this amount will fall, which decreases the overall amount of employee compensation. There is a strong evidence that spending on data initiatives has been increasing at a surprising rate and is likely to continue for next 2 years which ensures a boom for the big data companies.  Read more at:

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Tuesday, 04 August 2020
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