Best big data stocks to invest in
Here's a list of some of the leading big data companies you can invest in now.
What is big data?
Put simply, big data is a large data set (who’d have guessed?). It’s usually too complicated for your typical data processing applications to handle and it comes with loads of challenges with managing it.
The key to big data isn’t the quantity of data available, but more how companies use it. If it’s used correctly, it can give companies some valuable insight into their potential customers and help them develop their products.
What is data analytics?
Data analytics is how companies manage the data they have. It includes extracting and analysing it to gain insight, draw conclusions and create actionable tasks. It doesn’t have to be the analysis of big data, though. It can apply to the processing of any kind of data, big or small.
Data stocks to watch
Big data and data analytics come hand in hand. These companies all analyse big data to improve their customers’ technology and user interaction.
Elastic – NYSE:ESTC
Elastic is the company behind the search tool for some major companies including Facebook, ticketmaster and Just Eat. So whether you’re looking for tickets to the next Beyonce concert, casually looking at your ex’s new girlfriend or simply ordering a Chinese takeaway, Elastic is what’s powering it.
MongoDB – NASDAQ:MDB
MongoDB calls itself “the database for modern applications”. It’s used by companies you’d recognise, like Google, eBay and Adobe.
It’s a document database, which refers to the way that it stores data (in JSON-like documents, if you were wondering). It has a comprehensive set of tools that help customers effectively analyse the data.
Alteryx – NYSE:AYX
Alteryx is a self-service data analytics company. It can help companies analyse their data and offer more insights. It claims to be accelerating digital transformation.
Customers of Alteryx include Dell, Vodafone and Unilever, among many others.
Cloudflare – NYSE:NET
Cloudfare offers insight and intelligence to protect its customers’ Internet property. It can create a custom analytics dashboard and gain actionable insights into their websites.
Splunk – NASDAQ:SPLK
Splunk calls itself “the Data-to-Everything” platform. It lets its customers innovate using purpose-built solutions, AI and machine learning. It is used by an impressive 91 of the Fortune 100.
Splunk aims to remove the barriers between data and action.
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Warning: This article offers information about investing and the stock market, but is not personal investing advice. The value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please get professional advice, for example from a financial adviser.
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