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In 2016, Big Data was a $130 billion market, estimates IDC. Further, they expect the Big Data market to grow to $203 billion by 2020, a nealry 12 percent annual growth rate.
A recent study by AtScale looked at businesses, how they are using Big Data, and their plans for using Big Data in the future. The report found that:
- Three-quarters of businesses are use Big Data primarily for Business Intelligence.
- Two-thirds of businesses now classify their use of Big Data as “strategic” rather than “experimental”.
- Big Data is slowly becoming synonymous with cloud. More than half of Big Data users are using it in the cloud and 72 percent plan to use the cloud with Big Data in the future
- 97 percent of businesses surveyed said that they plan to increase their usage of Big Data over the next three months
Matt Baird, AtScale CTO, said that “there’s been a clear surge in use of Big Data in the cloud over the last year and what’s perhaps as interesting is the fact that respondents are far more likely to achieve tangible value when their data is in the cloud.”