13 Apr
2015
NoSQL is a database mechanism that enables users to store, access, and analyze huge volume of unstructured data. It allows enterprises to achieve high scalability, simple designs, and precise control over unstructured data. Some of its features include, ease in usage in conventional load-balanced clusters, scalable memory, no fixed schemas, and schema migration without downtime. The growing awareness of advantages over relational database would increase its demand, especially in, social network, e-commerce, and retail applications. Integration of different technologies and demand for cloud computing technology would drive growth in the industry.
Tech giants, such as Amazon, Google, and Yahoo use it to serve their users. It helps them to gain a competitive advantage by providing speed and flexibility. Traditional relational database technology is unable to overcome challenges, such as scaling traffic at low cost, generation of huge volume of temporary data, and others. So, this database is an affordable solution that meets expectations of users.
Trends:
Micro services enable enterprise to have low cost, agile, scalable software development and data management services over traditional databases. It has ability to use many different data models for different services. Ecommerce Company can use micro services for flexibility and greater speed in their systems. Polyglot persistence is a term used by data professionals for a disengagement of process into a separate data stores and services. With the help of micro services and polyglot persistence, overall performance and execution speed would improve.
The emergence of Internet of Things, resulted in generation of huge amount of data. Auto insurance companies are demanding these systems to track activities of their customers. They are getting acquainted with benefits of IoT. As a result, these companies are also in business of big data and NoSQL analytics. In addition, retail and healthcare sectors are also entering in this business eyeing the benefits of IoT. So, it is needed for structuring the huge volume of data generated in unstructured format.
The adoption has been slow over many years, but it is gaining traction as managing unstructured data is significant for businesses. Both data people and software developers need big data and NoSQL for different purposes. Software developers need agility, complete their projects faster, and in iterations. While, data people need consistency, safety, and reliability. Dr. Vladimir Bacvanski, the co-founder of SciSpike, said, “The data side has realized that they need to take care of these new systems somehow. And the developer side understands that these new systems certainly need better Data Governance. The benefits are finally much clearer to everyone.”
Analysts studying the market have revealed a thorough information on changing market dynamics in research reports. Allied Market Research had published a report titled, “World NoSQL Market - Opportunities and Forecasts, 2013 - 2020.” As per the report, the world NoSQL market is expected to register a CAGR of 35.1% from 2014 to 2020 and would reach $4.2 billion by 2020. The report provides a comprehensive analysis of detailed segmentation, value chain analysis, drivers & opportunities, and competitive scenario.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
How Do Sustainable Sourcing of Oleochemicals Boost Your Brand Impact?
How Are the Latest Advances in Check Cashing Services Transforming the Financial Ecosystem?
A Look into the New Office Decoration Concepts Embraced by Top Businesses
Smart Airport: Advanced Technologies Opened New Avenues for Aviation Businesses
How Do Turbine Control System Technology and Software Optimize Your Business Potential?
How Does Cable Tray Act as a Robust and Sustainable Solution for Various Leading Industries?
Performance Bank Guarantee: How Digitalization Is a Profitable Option for Your Business?