Big data is not a fad. It's not going away, it's here to stay and is increasing exponentially. It's projected that by 2020 1.7 megabytes of new information will be generated every second. This information includes everything from tweets, text messages, the photos taken on your phone, Youtube videos uploaded, credit cards scanned, websites created, basically everything you can think of in this digital age. There is obviously a ton of financial opportunity with this amount of data and many businesses are already taking advantage of this. Even if your business model isn't centered around data, it's estimated that bad or poor data costs US businesses $600 billion every year (http://www.fathomdelivers.com/blog/analytics-and-big-data/big-data-facts-and-statistics-that-will-shock-you/).
How does a business organize and store that much data so they're not losing money and running more efficiently? Sure a local coffee shop might only have to manage inventory, credit card transactions, payroll, and a few other things, but what about companies like eBay, Cisco, Expedia, or even entire city governments?
Well, that's where I recently learned about a company called MongoDB. MongoDB has created a way to store data in an easy to read, easy to change, and in an overall flexible way. They created a free, open-sourced software that those companies I listed and even a few city governments are using right now.
Here's a quick explanation of how they store and utilize that much data:
Big data isn't going anywhere and neither is MongoDB. They're cheap, easier to use, and in my opinion, they're designed better than their competition. They recently went public last August and I'm excited to see them continue to grow in the years to come.