The energy industry is a big spender when it comes to big data and analytics, according to a new study from ABI Research. The firm’s latest market forecast shows that spending on big data and analytics in the sector will amount to $7 billion in 2014 and rise to more than $21 billion by 2019, for a compound annual growth rate of 25 percent.
As an industry, energy has traditionally been conservative in adopting new forms of IT, says the study, “Big Data and Analytics in Energy Industry.” But the resistance to change has begun to soften.
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