Yes, although HANA is best suited to high-value data, because it keeps data mostly in-memory. When Big Data is low value (e.g. web logs), HANA is very well suited as the store for high-value aggregated information and applications.
This could be an organization’s hot data, e.g., 4 months of financial information for quarterly reporting. Other sources could be used to store additional data; for example SAP IQ could store 13 months of financial data for annual reporting (warm data) and Hadoop could store >10 years of financial data for seasonal and long term trend analysis (cool data). Large volumes of data in both IQ and Hadoop can be analyzed in combination with data in HANA, so it is possible to process the data in HANA into full-text Google-style indexes without storing all the detail in HANA.