Big Data to create new business opportunities

It has been estimated that this year companies´investment in business intelligence systems and data analysis will grow by 12% globally, driven by the banking sector and the manufacturing industry.

Friday, March 24, 2017

According to estimates by the firm International Data Corporation (IDC), "... worldwide revenues for big data and business analytics (BDA) will reach $150.8 billion in 2017, an increase of 12.4% over 2016. Commercial purchases of BDA-related hardware, software, and services are expected to maintain a compound annual growth rate (CAGR) of 11.9% through 2020 when revenues will be more than $210 billion."

The ICD report explains that the industries which made the largest investments in business and data analysis solutions (BDA) this year are banking, the manufacturing industry, government agencies and professional services. "...  Combined, these five industries will spend $72.4 billion on BDA solutions this year. They will also be the largest spenders in 2020 when their total investment will be $101.5 billion." 

"... The industries that will experience the fastest growth in BDA spending are banking (13.3% CAGR) and healthcare, insurance, securities and investment services, and telecommunications, each with a CAGR of 12.8%. "

Read full report from the IDC.

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