No Decision Made Without First Analyzing Big Data

The availability of data, a new generation of technology, and a cultural shift toward data-driven decision making continue to drive demand for big data and analytics technology and services.

Wednesday, October 5, 2016

Availability of information, new technologies and cultural change towards making decisions based on data is changing the way we do business.

According to estimates by the firm International Data Corporation (IDC), at the global level "... business investment in these systems will increase from $130,000 million in 2016 to $203,000 million in 2020."

The market for big data and analytics will grow by 11% this year. In 2015 sales of these systems added up to $122,000 million, and according to projections by IDC, it is expected that in the next four years the pace will maintained at almost 12%.

On an international level, "... The industries driving much of this growth include banking, discrete manufacturing, process manufacturing, federal/central government, and professional services. Together, these five industries will account for nearly 50% of worldwide big data and business analytics investments in 2016 and will remain the top five industries through 2020."

In addition to being the industry with the largest investment in big data and business analytics solutions (nearly $17.0 billion in 2016), banking will see the fastest spending growth. Telecommunications, utilities, insurance, and transportation will join banking as the industries with the largest CAGRs over the five-year forecast period. However, these industries will not be alone; 16 of the 18 industries covered in IDC's spending guide will experience double-digit CAGRs from 2015-2020."

See the full report by the IDC.

Do you need more information about your business sector?

Request more information:









this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423


More on this topic

Is Data the New Oil?

September 2021

In the digital era, data is being created at a speed never seen before, and its proper application in business intelligence is already generating incalculable value for businesses

It seems irrational to suggest that a concept like data could be more valuable than an established and indispensable product like oil, but as the years have gone by, this already seems like a reality.

Big Data, Business and the Future

December 2019

The ability to identify and understand hidden patterns and correlations in large volumes of data and use them to make business decisions is becoming a strategic competition for companies for the future.

Machine learning and statistical analysis are some of the most popular techniques used today in artificial intelligence (AI) applications.

Big Data to create new business opportunities

March 2017

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.

According to estimates by the firm International Data Corporation (IDC), "...

How to Compete in a data-driven World

January 2017

The success of companies increasingly depends on their ability to integrate data analysis both for strategic and operational decisions.

Both the availability of data and the ability of technology to use it for analysis, have increased exponentially in recent years. More sophisticated algorithms have been developed and computational and storage power has steadily improved. The convergence of these trends is fueling rapid technological advances, aiding better business management.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 19)
Brent Crude Oil
87.33
Coffee "C"
241.70
Gold
1,824
Silver
23.820