If a few years back, we would only hear whispers about big data, and people couldn’t really fathom what it really meant and how it could benefit their businesses, this year marks an important step forward for our industry: since 2017, 53% of companies are adopting big data analytics. Exactly how important is this milestone? In 2015, a little more than two years ago, only 17% of the companies were adopting big data, with telecom and financial services leading the platoon of early adopters.
Companies feel the need to understand their customers more intimately, to analyse more in-depth their customers or users’ behavior, interests, income and so forth, so there’s no wonder that reporting, dashboards and advanced visualization, alongside data wearhousing are the top five technologies deemed strategic to business intelligence by companies.
According to Dresner Advisory Services 2017 Big Data Analytics Market Study, Education had the lowest adoption at the end of 2017, with the majority of institutions saying they are evaluating big data analytics for the future. With telecom and financial services being the top two industries investing in big data, Technology and Healthcare are going for number 3 and 4.
According to the same study, North America (55%) narrowly leads EMEA (53%) in their current levels of big data analytics adoption. Asia-Pacific respondents report 44% current adoption and are most likely to say they “may use big data in the future.”
“Across the three years of our comprehensive study of big data analytics, we see a significant increase in uptake in usage and a large drop of those with no plans to adopt,” said Howard Dresner, founder and chief research officer at Dresner Advisory Services, according to a press release. “In 2017, IT has emerged as the most typical adopter of big data, although all departments – including finance – are considering future use. This is an indication that big data is becoming less an experimental endeavor and more of a practical pursuit within organizations.”
It is important to note that, compared to 2016, industry sentiment has shifted. More than half of vendors say big data is “critical”, up from 47 percent in 2016. However, more interesting is the percentage of people who are starting to see the potential of analytics and big data: 21% say it is only “somewhat important”, a significant increase over 2016, when only 9% of the companies acknowledged the fact.
This is a good sign for the industry as a whole, meaning both demand and supply is increasing and the world of digital analytics is expanding. Dresner Advisory notes that this is likely an indication that most industry vendors have now brought products to market, establishing a new equilibrium between supply and demand for big data technologies.