The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data Analytics: Finally Getting Answers to the Crunchy Questions
Global Big Data Analytics reached a market size of $3.2 billion in 2013 and is expected to reach $15.1 billion by 2020, based on a study by research analysts at Frost & Sullivan. The market includes specialized segments on discovery and visualization (DDV) and advanced analytics (AA).
Hiral Jasani, analyst at Frost & Sullivan, said that “high spending on data architectures to identify opportunities for future growth is driving the development of big data analytics solutions. Further, the affordability of tried and tested open-source big data computing frameworks such as Hadoop is fuelling demand.”
Eddie Short, head of KPMG’s Insights Labs, said that “businesses need actionable insights across all channels. These so called ‘moments of truth’ are critical in building the customer experience, and that means having the right data and predictive analytics to be prepared for key customer interactions that could lead to cross-sell, up-sell or just have a truly engaged conversation with your customer.”
John Lucker, Principal and Global Advanced Analytics and Modeling Leader at Deloitte, said that “this is an iterative process in which you will learn what works and what doesn’t. But if organizations focus on the strategic value that they expect to get out of their analytics, they will find that they can indeed ask the crunchy questions that get them the crunchy answers.”
Gary King, professor at Harvard, said that “there is a big data revolution. But it is not the quantity of data that is revolutionary. The big data revolution is that now we can do something with the data.”
