Worldwide revenues for big data and business analytics will grow from nearly $122 billion in 2015 to $187 billion in 2019, according to the new Worldwide Semiannual Big Data and Analytics Spending Guide from research firm International Data Corporation (IDC).That’s an increase of more than 50 percent over IDC’s five-year forecast period.”Organizations able to take advantage of the new generation of business analytics solutions can leverage digital transformation to adapt to disruptive changes and to create competitive differentiation in their markets,” Dan Vesset, group vice president, Analytics and Information Management, IDC, said in a statement yesterday. “These organizations don’t just automate existing processes — they treat data and information as they would any valued asset by using a focused approach to extracting and developing the value and utility of information.”Services represent the biggest opportunity, according to IDC. They will account for more than half of all big data and business analytics revenue for most of the forecast period. Within the category, IT Services will generate more than three times the annual revenues of Business Services, IDC says.Software will be the second largest category. IDC says software will generate more than $55 billion in revenues in 2019, nearly half of which… Read full this story
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