Global Hadoop Market to grow at a CAGR of more than 53% During 2015-2019
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Technavios market research analysts predict the global Hadoop market to grow at a CAGR of more than 53% over the next four years. Several factors such as data explosion in enterprises and demand for cost-effective solutions to meet big data analytics needs contribute to the growth of this market.
However, the market is witnessing a lack of trained and talented technical experts. Companies are unaware of the technologies concerned and skills required for managing big data. As per the forecast, this market will witness a gradual shift towards Software as a Service (SaaS)-based Hadoop solutions as it helps enterprises save cost and gain a better user experience.
How does Hadoop help analyze data?
The Hadoop platform collects data from various sources such as social media, customers, and financial data, and stores it in a Hadoop data warehouse to undergo the map reduce process.
In the map step, the input is mapped into cluster control nodes from various sources such as legacy systems, XML files and packaged enterprise applications such as CRM, ERP, SCM, SaaS-based applications files, Industry-specific files, and digital content such as e-mail and website content.
The second step is called reduce, and it involves various smaller nodes of information that are generated and distributed across computing servers. Thereafter, parallel computation is performed by these work nodes to generate relevant output for queries. The results are collected from the nodes to generate conclusive data for decision-making purposes. The analyzed data is interpreted through tools such as business intelligence (BI) applications, enterprise applications, and dashboards.
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Various big data solutions such as analytics and data management are performed on this cloud-based platform. Enterprise end-users access the results through web-based subscription services offered by their service providers.