Is Oracle 11g is able to ingest big data? What is the sizing limitation for Oracle 11g? Can I use it as big data platform? From the following link I understand that there is no limitation for the records, only the columns are bounded to 1000. So if my big data has less than 1000 per table but contains many records can I use Oracle 11g as big data platform?
There is no reason why you cannot use Oracle 11g to create large databases. The 1000-column limit is a theoretical one, not a practical one imo. The theoretical database size limit is in petabytes. You should question why you would want to put that much data in a single database and be prepared to pay for the infrastructure to support it. This is a good summary link - http://awads.net/wp/2010/02/15/oracle-database-limits-you-may-not-know-about/

Having administered and tuned dbs of 50TB and more, the limits you should be more concerned with are for query performance. Ask Oracle about licensing as well before you proceed.