10 Big Data Predictions for 2016 Revisited
As organizations complete the latest wave of big data projects, plenty of opportunities and challenges remain. For a reality check, here International Data Corp.’s top 10 near-term and long-term predictions for the big data market.
“Visual data discovery tools will be growing 2.5 times faster than rest of the business intelligence (BI) market. By 2018, investing in this enabler of end-user self service will become a requirement for all enterprises,” IDC said.
“Over the next five years spending on cloud-based Big Data and analytics (BDA) solutions will grow three times faster than spending for on-premise solutions. Hybrid on/off premise deployments will become a requirement,” IDC indicated.
“Shortage of skilled staff will persist. In the U.S. alone there will be 181,000 deep analytics roles in 2018 and five times that many positions requiring related skills in data management and interpretation,” IDC predicted.
“By 2017 unified data platform architecture will become the foundation of BDA strategy. The unification will occur across information management, analysis, and search technology,” IDC stated.
“Growth in applications incorporating advanced and predictive analytics, including machine learning,” is accelerating this year. “These apps will grow 65% faster than apps without predictive functionality,” IDC said.
“70% of large organizations already purchase external data and 100% will do so by 2019. In parallel more organizations will begin to monetize their data by selling them or providing value-added content,” IDC estimated.
“Adoption of technology to continuously analyze streams of events” is accelerating this year as it is “applied to Internet of Things (IoT) analytics, which is expected to grow at a five-year compound annual growth rate (CAGR) of 30%,” IDC stated.
“Decision management platforms will expand at a CAGR of 60% through 2019 in response to the need for greater consistency in decision making and decision making process knowledge retention,” IDC said.
“Rich media (video, audio, image) analytics will at least triple in 2015 and emerge as the key driver for BDA technology investment,” IDC stated.
“By 2018 half of all consumers will interact with services based on cognitive computing on a regular basis,” IDC concluded.
Thank you to IDC for the predictions. For more Information Management slide shows, please visit here.
As organizations complete the latest wave of big data projects, plenty of opportunities and challenges remain.
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