As head into the fall, industry-watchers will begin releasing market predictions and trends that will define the rest of this year and the year ahead. As cloud adoption and migration continues to grow, so do the industries that depend on cloud technologies including business intelligence and big data. For enterprises, business intelligence and big data offer the insights to better serve customers and understand the market at large.
Being in the cloud industry, I enjoy observing market trends and seeing where the industry is headed. Here are some observations from several reports on business intelligence and big data, as well as what this means for enterprises.
- Cloud-based big data spending is growing 4.5x faster than on-premises solutions: According to research firm IDC, the cloud is supporting the journey into data-driven business solutions. Furthermore, IDC also predicts that by 2020, 50% of all analytics will also include cognitive cloud features.
- Cognitive spending will grow 55% CAGR through 2019: Speaking of cognitive spending, IDC also reports that cognitive spending will grow at a high rate through 2019, with 40% going towards software. Much of this software is predicted to include visualization, filtering, and alerting, which provide richer data insights. Organizations that adopt these technologies will be heavily dependent on public and hybrid cloud solutions to store data.
- Data-driven initiatives are driven by customer relationships and the need for insights: As organizations adopt big data and business intelligence tools, IDG has analyzed the enterprise motivations behind adoption. According to their research, customer relationships (55%) and the need for data (53%) lead enterprise motivations. Much like adopting cloud solutions, organizations will need to be ready for a shift in culture that balances with the direction of business.
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