Development Trends and Strategy Planning in Big Data Industry

Big data refers to technology for storing, converting, transmitting, and analyzing large quantities of structured or unstructured data, which may be dynamic and diversified d, for the purpose of social or commercial applications. Big data applications need to be able to undertake high-complexity and real-time analysis of vast amounts of data to help users make decision within the shortest possible timeframe. As a result, big data technology and the related industry are becoming ever more important. However, the scope, development trends, and possible strategy of big data industry have not been clearly addressed so far. To fill this gap, this paper presents a comprehensive assessment of the development trends and a systematic planning of business strategy in big data industry. The study utilizes nominal group technique (NGT), in-depth interviews, and focus group discussions among industry professionals. The research framework includes defining industry scope, assessing business environment by SWOT analysis, forecasting production value and growing trend, and outlining strategy for the emerging big data industry. The results provide a practical reference for vendors interested in entering the emerging big data market