Big Data to Expand, Generate New Software Markets
Both large enterprises and small companies are becoming more familiar with the necessities of collecting, managing, and storing increasingly large volumes of information. For this reason, industry experts believe that Big Data initiatives will continue to gain momentum in 2014 and move beyond the early adoption phase in which it currently exists.
These findings were highlighted in a recent report by research firm Ovum, which also revealed that the platforms and technologies used in Big Data initiatives will diversify in the coming years, especially as organizations adopt various tools for different reasons. In many cases, decision-makers will opt to deploy multiple solutions at the same time to experience a greater overlap in capabilities and improve operations as a whole.
"The rationale is a mix of providing convenience, leveraging familiarity with SQL, and providing unified management over diverse analytic workloads. By bundling multiple engines, management of diverse analytic workloads becomes more convenient," said Tony Baer, principal software analyst at Ovum. "The drawback is that some of these engines or approaches are quite early in development; in many cases, implementations are still proprietary."
Fast data, which makes up the high-velocity portion of the Big Data landscape, will have a particular impact on how Big Data solutions are built and deployed.
A new market emerges
Analysts highlighted how Big Data applications are growing increasingly popular because these tools provide companies of all sizes with the ability to analyze large volumes of complex information without introducing unnecessary performance or financial issues. As the Big Data technology market emerges and expands, the global business software landscape will also experience growth.
A separate IDC report highlighted how Big Data and analytic solutions are driving worldwide spending on software. Analysts revealed that overall investments on applications will expand at a compound annual growth rate (CAGR) of nearly 6 percent between 2012 and 2017. Data management, access, and analysis tools in particular are poised to witness an 8 percent CAGR during the forecast period.
Big Data is changing the business world, encouraging organizations of all sizes to adopt new tools and strategies to optimize performance. By planning ahead and understanding how the application environment is expected to change, executives can find and launch the tools that meet their specific needs and requirements.
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