Big-Bang pretty much explain the origin of universe, but still many people don't believe it. Isn't it possible that our universe come out of a white hole which have been pulled out from a black hole that was in some other universe?
closed as unclear what you're asking by garyp, WillO, John Rennie, user36790, CuriousOne Jul 18 '16 at 19:19
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No one knows.
One other thing ... the big bang hypothesis does not explain the origin of the universe (although I recognize that you used the word "formation", not "origin", but I'm not sure what exactly you meant by "formation"). It explains what happens after a certain epoch in our universe's history. What happens before that is completely unknown. What we call the big bang might occur a tiny fraction of a second before the creation of the universe, or many billions of years after the creation of the universe. All that assuming that the universe had a creation event.