Facebook hosted a data faculty summit on September 16, 2014. Top database faculty from around the country joined Facebook researchers at their headquarters in Menlo Park, California, to discuss the key open challenges around data storage and access. The focus was on three broad topics: small data, big data, and hardware trends. Small data refers to OLTP-like queries that process and retrieve a small amount of data, usually 1-1000 objects requested by their id. Indexes limit the amount of data accessed during a single query, regardless of the total volume of data. Big data refers to queries that process large amounts of data, usually for analysis: trouble-shooting, identifying trends, and making decisions. The total volume of data is massive for both small and big data, ranging from hundreds of terabytes in memory to hundreds of petabytes on disk.