That there is hype surrounding big data goes without saying. My Google Alert for the topic brings multiple mainstream media articles about big data every single day. And that isn’t even counting all the ink about big data in trade magazines, blogs, and yes, the increasingly popular infographics.
The good thing (hopefully) is it is not talk only. Money is following the hype.
Venture Capitalists as well as large companies like IBM, Facebook, Google, and GE are betting big on big data. From dedicated second $100M big data fund from Accel Partners and the $105M fund from IA Ventures, to investments in big data start-ups and acquisitions, the money is flowing freely. Check out some numbers:
Google Ventures Has $1B and it Likes Big Data Start-ups (cached version)
In Pittsburgh, investment in big data/data analytics start-ups is also beginning to pick up, often led by AlphaLab and Innovation Works. As of the writing, there are over a dozen big data startups funded; many more are in the works.
However, what many start-ups are missing is the positioning of their companies in the ‘big data’ space.
Entrepreneurs in Pittsburgh need to be savvy about understanding the big data nature of their applications and incorporating it in how they define and position themselves to benefit from the excitement and investments in big data.