(IDC) forecasts worldwide revenues for big data and business analytics (BDA)
Big data- the most talked-about phase of the year by some margin is surely having a field day globally. The recent forecast from IDC has pointed out a possible revenue level at around 150.8 billion dollars this year and surely a steady 12% growth over the existing revenue level. With increases commercial purchases, big data may grow into a whopping 210 billion revenue product that surely will shake up a few records.
This, as many have pointed out, is the coming-of-age moment for big data where it goes mainstream IT business and upends all previous trends recording by showing its insane potential. Surely, decision making, automation of decision chains and immediate solutions are no longer theoretical jargons. They are stark realities happening at each moment across various enterprises powered by big data.
What are the industries of impact?
Of course, while everyone is trying to catch the big data bus, there are some industries that were always there and they are going to reap the best of its benefits. Banking, process and discrete manufacturing, professional services and federal necessities are some of the most important industries that will surely produce the maximum revenue for big data, nearly a half of it. In fact, with time, their share of investment will increase slowly.
However, there are industries that are showing insane growth rate in terms of big data and in near future, some of them will have to be bracketed alongside the five big players of big data. Healthcare, securities, insurance, telecommunications and investment services are some of the fastest growing big data investors. While they display a similar growth rate as of now, they expect to differ in the coming few years.
Financial sectors is the focus
Financial sectors like banking, investment services and security, and insurance are surely the most coveted sectors when you worry about big data precisely because of the volume of useful and the kind of activities these institutions pursue. Not only does it benefit the industry, but also it is useful for big data technology as a whole because it is the finance sector which contributed the highest in the early years of big data in terms of technological improvement.
The other sectors of concern
Telecommunications is a sector that is using big data to its greatest advantage by attracting even more customers. They know what kind of offers and services customers prefer by now thanks to big data and can be selective regarding sending specific messages to the customers. Media industry, on the other hand, surely has used big data as a harmonizing force because it tells you everything about a consumer’s preference, habit and inclination. So, targeting customers have become an easier job than ever.
The bigger the business, the more the impact
The study also revealed how bigger companies with employee sizes more than 1000 will be having a much greater impact on the big data scenario than the ones with small sizes precisely because the small companies are yet to absolve the big data without cynicism. They still consider the technology to be meant for the tech giants while that is hardly the case. However, such beliefs are fading away slowly as big data is not about big companies and all companies, in one way or the other, take part in the great big dat