Big Data No More An Experiment, It's Right Here

by CXOtoday News Desk    Aug 03, 2015

big data

More and more companies are finally embracing Big Data and, as they do, they’re realizing that it’s really not that intimidating, nor is it particularly difficult with the right people and the right mission.

An Inc. Magazine article states in their Vision 2020 Special Report that there is Less Stress for companies due to the transparency of key data that was never available before.

Another way Big Data is changing The Digital Age is through Faster Scaling. Scaling means achieving more efficient, effective, and widespread adoption of an innovation. “There’s no denying it; Big Data is more important than ever,” says Norman Kutemperor from Scientel.

“More and more businesses are embracing Big Data and appreciating its value, which has permanently changed the way entrepreneurs work. Denying the growing prominence of Big Data is frankly wrong and absolute solutions for Big Data such as Gensonix – the industry’s first polymorphic NoSQL DB are critical to business success.”

As Big Data continues to grow in prominence, everything gradually leans closer and closer to the virtual world, the third way Big Data has changed the Digital Age. Scientel’s My Little Big Data(TM) as an entry level solution simplifies Big Data Content Management at the SMB as well as individual levels.

A new TechNavio study also predicts the compound annual growth rate for professional services in the global big data market to reach 35.05 percent over the next four years.

The need to fill expertise and experience in the implementation of big data projects will drive market growth, says the report. The report also noted that adoption of Analytics as a Service will become the prevalent trend and that security concerns will become one of the challenges to the growth of the big data professional services market.

According to Ovum’s latest market size and forecast report on information management software, the big data software market will grow nearly sixfold by 2019.

Practice Leader, and co-author of the report, Tom Pringle, said, “The experimental era of big data is coming to an end, organizations are formalizing their use of big data technology to realize the business value they expect to find.”

The report highlights the fact that while big data software in 2015 is just a small part of the overall market for information management, it is set to increase at a CAGR of 50% through 2019 and play an increasingly important role that will position big data analytics as a core capability for many enterprises by 2019.

According to Pringle, “Big data, as an open source technology, has been accessible without creating huge financial impact on the market. Ovum believes that situation is changing, with commercial Hadoop distributions and a fast-growing ecosystem of enabling and extending technologies pointing toward a bright future for big data.”

The report suggests that the overall market for information management software is growing at a significant CAGR of 11%. Aside from the major impact of big data’s growth, BI and analytics are also strongly contributing to growth – close to doubling by 2019, from a market size of $15.85bn in 2015.

As Jade Huang states in the Inc report, “With so much digital content and commerce happening in the online and mobile world, savvy retailers and brands can now identify trends in consumer preferences and market signals across the globe, so they can react faster with relevant product offerings.