SAN ANTONIO, Texas — Big data may be generating a lot of buzz these days but it’s a mistake for technology and services vendors to concentrate exclusively on the trend, according to a big data and analytics experts.
“Big data is actually just a segment of the whole analytics environment,” said Dan Vesset, program vice-president for big data and analytics at analyst firm IDC. “There is a lot of hype around it…but I think we will soon reach the end of the irrational exuberance over big data.”
Two years from now, Avnet foresees this evolution continuing, with hardware accounting for 47 per cent of its IBM business in the Americas as service and software grow respectively to 27 per cent and 26 per cent.
Halfway through 2011, interest in big data began rising up to 100 by the beginning of 2013 and remains there now, he said.
IDC estimates as of this month places the global big data market at $8.1 billion. However, the analysts firm foresees business analytics hitting more than $95 billion.
The top three business opportunities for VARs based on market share identified by IDC last year were: query and reporting analysis, at over 30 per cent market share; data warehouse management, at about 29 per cent; and financial performance and strategy management, at around 13 per cent market share.
The three fastest growing business opportunities were in: customer relationship management analytics at 12 per cent growth; content analytics at slightly below 12 per cent; followed closely by data warehouse management.
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The top six industries were big data and analytics opportunities can be found are in: discreet manufacturing; process manufacturing; government; banking; professional services; and communications and media.
IDC also makes the following 10 predictions on analytics and big data:
1. More proof that analytics matter will emerge
2. A growing number of vendors will provide analytic services and content, in addition to technology
3. A shortage of analytics and big data skills will drive a growing number of buyers toward cloud solutions and appliances
4. Relational and non-relational information management technologies will co-exist
5. Projects focused on components of the Internet of Things focused on machine generated data will accelerate
6. Commercial use of artificial intelligence will widen with use across consumer industries, operating within call centers, in retail stores, in cars, etc.
7. Memory-based solutions will become industry standard
8. Users base for predictive analytics solutions will – slowly – begin to expand
9. Embedded (in applications, databases, and devices) analytics functionality adoption will accelerate
10. Adoption of mobile business analytics solutions will accelerate