Big Data is an important part of the global economy because of the increasing adoption of digitalization across economic sectors.
Big Data, in association with innovative technologies such as Artificial Intelligence and Machine Learning, is fueling what is better known as The Fourth Industrial Revolution. One of the most powerful technology trends is Big Data analytics which is reshaping many business processes and operations globally.
Today more than 2.5 quintillion bytes of data are being generated, daily. With such enormous volumes of data, businesses are moving into Cloud computing storage options. One of the most innovative data warehouses is Cloud based data storage solution Firebolt. Firebolt is a high growth Cloud Data Warehousing company that helps users streamline their data analytics and access information from any location. Firebolt is 4000 to 6000 times faster than other Cloud Data Warehouse providers like Snowflake or Amazon.
According to Forbes, 90% of the world’s data was generated in the last two years, but only less than 1% of that was processed and analyzed. Unlocking the potential of Big Data is critical for businesses to stay competitive by minimizing risks and improving performance.
Starburst is one of the hottest companies in the data analytics space: its strength is its ability to allow different teams to analyze data easily and from different databases, reducing the time to access information. Today companies generate a huge amount of data, every day. And the need for faster analytics on decentralized data helped Starburst achieve a 3x YoY growth in annual recurring revenue, 122% YoY customer growth, and 61% YoY employee growth, as reported by the company in the most recent quarter.
As critical as Big Data is today, its impact will be even larger in the future: The global big data analytics market was valued at $240.56bn in 2021 and it is projected to grow from $271.83bn in 2022 to $655.53bn in 2029.
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