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Google Had Been Left Out Of A Multi-Billion Dollar Market It Invented ... Until Now

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Google has formally launched its own entry into the big data market.

It officially released its cloud-based tool BigQuery. The search giant had been testing the tool in private beta since November and it is now open to all comers -- for a price, it said in a blog post.

BigQuery is Google's cloud service alternative to things like the open source project Hadoop, HP's Vertica, IBM's Netezza or Wall Street IPO darling Splunk.

BigQuery can handle terabytes of data and although Google is now charging for the service it is letting users store up to 100 gigabytes for free.

This is particularly interesting because Google invented the techniques that lead to the big data revolution. Years ago it published some technical papers describing how it deals with massive volumes of data so quickly. Others read those papers, used those technique and came up with their own versions. The big data revolution was born.

Today big data is one of the hottest technologies around. Market research firm IDC predicts companies will spend $16.9 billion on big data products and services by 2015, compared to $3.2 billion in 2010. Google wants its share of those billions.

Big data refers to a combination of technologies that can search and analyze massive amounts of information nearly instantly no matter what format they are in: tweets, posts, e-mails, documents, audio, video.

Google thinks BigQuery beats the alternatives because it's so easy to use -- by hooking into one interface BigQuery gives users access to Google's powerful data centers. Alternatives like Hadoop take a lot of expertise to set up and you still have to run it on some hardware somewhere.

BigQuery is priced affordably too -- at least for a six month "introductory" period. 12 cents per gigabyte per month and 3.5 cents per gigabyte processed per day.

Don't miss: Big Data Is The Hottest Thing To Hit The Web In Years: Here's Why

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Julie Bort was Business Insider's Editor at Large for the Tech team. She loves investigating stories and shedding light on the tech industry's most amazing people.Here's a small sample of some of Julie's work.Former Pinterest employees describe a traumatic workplace where managers humiliate employees until they cry, Black people feel alienated, and the toxic culture 'eats away at your soul'Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked itInsiders say WeWork's IT is a patchwork of cheap devices and Band-Aid fixes that will take millions to fixWeWork's toxic phone booths were created in-house by its Powered by We business70-hour weeks and 'WTF' emails: 42 employees reveal the frenzy of working at Tesla under the 'cult' of Elon MuskElon Musk works so many hours at Tesla, employees are constantly finding him asleep under tables and desksHow this woman went from a Pizza Hut employee to a founder of a $4 billion startupAn Oracle insider explains how some salespeople gamed the system to sell more cloudTHE TAKEDOWN OF TRAVIS KALANICK: The untold story of Uber's infighting, backstabbing, and multimillion-dollar exit packagesMicrosoft is in talks to buy GitHub, a startup at the center of the software world last valued at $2 billionThe alarming inside story of a failed Google acquisition, and an employee who was hospitalizedInside Facebook's plan to eat another $350 billion IT marketHow a registered sex offender wound up living in an Airbnb hosting unsuspecting guestsA controversial ex-banker is the person who really runs Twitter — and he's gambling the company's future on one risky betSecret passages and skipped meals: Oracle's CEO gave us a rare peek at what it really takes to run a $37 billion companyHP told some employees to choose between becoming contractors with no benefits or being fired without severance'I felt like we were being extorted': Customer says Oracle tried to strong-arm him into a cloud saleHow the queen of Silicon Valley is helping Google go after Amazon's most profitable businessAirbnb host: A guest is squatting in my condo and I can't get him to leaveLIES, BOOZE, AND BILLIONS: How one of the fastest-growing startups in Silicon Valley history raised $580 million then spiraled out of controlGitHub is undergoing a full-blown overhaul as execs and employees depart — and we have the full inside storyWhen she's not writing for Business Insider, Julie can usually be found on the trails, on my mountain bike, or on my skis, if you know where to look.