SummaryWhat is Big Data? 3How does it add value to organizations? 3Importance of Value Chain in Big Data 4Current Trends of Big Data in the World and India 4Growing Data: 5Growth by Region 6Big Data Service Providers 8Growth Prospects in Big Data 9How Big Data is Helpful for Industries 10Measuring the value of Big Data 14Key challenges in the Big Data industry Big Data 14What is Big Data?According to Forbes – Big Data is a collection of data from traditional and digital sources inside and outside the company that represents a source for continuous discovery and analysis. According to Gartner – Big Data is defined as a high volume, velocity and variety of information resources that require innovative and cost-effective forms of information processing for better understanding and decision making. According to IBM, Big Data is more than just a question of size; it's an opportunity to find insights into new and emerging types of data and content, to make your business more agile, and to answer questions that were previously considered unattainable. According to Mckinsey, Big Data refers to data sets whose size is beyond the capacity of typical database software tools to capture, store, manage and analyze. How does it add value to organizations? Organizations are starting to use Big Data to gain a competitive advantage by improving business, predicting consumer and purchasing behavior, and reducing costs by optimizing operations processes. Unlike more traditional business intelligence systems, Big Data techniques allow institutions to analyze data to identify patterns more quickly and at a much lower cost. More accurate analysis leads to more confident decision making which leads to greater operational efficiencies, .... .. middle of paper ...... or analyze sales trends to keep production efficient. Advantages of Big Data: a. To detect product defects and increase qualityb. To improve offer planning. Improved Defect DetectionMeasuring the Value of Big DataMeasuring the value of Big Data initiatives keeps organizations focused and aligned with the needs of the business. Without a goal-oriented approach, the organization may end up spending more than expected to achieve desired goals. Key Challenges in Big Data We can classify the challenges into three key strategic and operational areas:1. Information strategya. Analyze which investments will provide the greatest business value and ROI.b. By 2015, Gartner predicts that 4.4 million jobs will be created thanks to big data. There will be shortage of skilled resources.2. Data analysis3. Corporate information management