Leveraging Big Data to Unlock Value in Space
Experts predict that by the time we reach the midpoint of 21st century, every single enterprise in the world has to come under the aegis of big data somehow or the other. You simply cannot run a business after 2050 if you don’t have internal big data facilities or your company doesn’t consider big data to be worthy of attention. The world is entering a period where data is equivalent to money and it will increasingly have an insurmountable impact of economy. In short, if you are not powered by data, then you will be short of fuel in no time and your business will run out of steam and possibility.
Interestingly enough, the companies that are threatened by this explosion of big data are the companies who brought computer to business. Space companies are wondering how they can catch the bus they have missed long ago and hence, they are now planning various methods to get themselves back of track. They have not updated themselves regarding the rapid changes in the world of technology which has left them out of the circuit. Now that new companies are constantly expanding their potential with big data, these companies want to join too.
How to find a new path?
While most space companies are at a loss how to capture the market, there are a few names that are making the move currently. Many companies do have a huge cache of images of the earth which often amounts to petabytes of data. Each day, humongous amount of big data are brought in by these companies and such amount of data, needless to say, impossible to analyze by human methods. It is precisely why big data is so important because big data deals precisely with these kinds of data problems.
Companies slowly understand that entering the big data ecosystem seems extremely profitable as these companies can become the largest players in the image information business as companies across the globe are seeking such data to enhance their business prospect. In fact, companies are now allowing a low-cost access to this data for quite a few start-ups who work with location and earth images. Space companies know that opening up access is necessary for overall flourish of technology and they are contributing to it in their own way and gaining from it too in this process.
Why such craze of this kind of data?
Big data is of no value unless you have the ability to transform this data into value propositions. Earth images can constitute a huge database but space companies cannot derive anything out of it unless there is collaboration between other concerned enterprises. Companies have suddenly realized that images are invaluable information and getting them at such low cost is almost like accessing a goldmine for free. New start-ups are emerging who want to make most of this data and create new possibilities in image-based search methods. Image as data is going to become a rage anytime soon, experts predict.
On that note, it is essential to understand that these images are inventory of the earth which allows extensive tracking, searching and extracting data out of location that can have immense potential in terms of communication. To see earth in a single view seems to be the dream of any company that wants a globalized business scale and these images allow you that. Companies that deal with atmosphere can benefit largely from these images as they provide information about the changing stratosphere too. Such images will soon have a pervasive presence across the globe and ensure that the world is a safer and better place to live.