Big data software to explode by 2019

Big data processing and analytical software - a key component of the Business Intelligence marketplace - is set to grow by nearly 600 per cent within four years, analysts predict.

LONDON - July 28, 2015.

A new report by tech and telecoms commentators Ovum forecasts that the big data software market will grow nearly six fold by 2019.
 
Big data software is still a relatively small section of the overall market for information management in 2015, but is predicted to increase at a Compound Annual Growth Rate of 50 per cent to 2019.
 
Its role is set to transform, to position big data analytics as a core capability for many enterprises by 2019.
 
Experts say the experimental era of big data is coming to an end, with organisations formalising their use of management software and analytics to realise their data’s expected business value.
 
Ovum says the broader market for information management software is growing at 11 per cent, annually, with business intelligence and analytics strongly contributing to growth, doubling by 2019 up from a market size of just under $16bn in 2015.
 
Self-service Business Intelligence is enabling a 'new universe' of users, they say, driving the expansion of the market thanks to a raft of cloud and mobile services opening up accessibility.
 
Data management remains the most sizeable part of the market according to Ovum's report, accounting for over 40 per cent of total spend at $24bn this year.
 
However, within this area, customer privacy remains a huge concern where the storage and processing of big data is concerned.

Furthermore, the protection of customer data privacy should be a business priority rather than an IT one, the report suggests, with secure systems in place to restrict undue access of customer data made standard.
 
The evolution of big data software is shown to be marching on with vendors continuing to produce innovative products and services every few weeks...
 
This year has already seen major announcements from data giants IBM regarding their investment in support of the Apache Spark platform as well as from SAP and their new big data-focused release of their HANA database and platform. Oracle also added its new Big Data Discovery, Spatial and Graph capabilities to its BI platform recently.
 
Despite the advent of new technology in the big data field, generating new insights from the available data as well as getting value from them and their effective application to business problems remains the biggest challenge.
 
The second biggest challenge is finding a solution to the issue of relevance. As big data often arrives for processing in no particular order, it still, in many cases, requires vast human effort to prepare it for analysis by BI software...
 
In July, a study by data integration company Xplenty found that from 200 business intelligence professionals, a third spent between 50 to 90 per cent of their time just cleaning raw data they received.

Adrian Ashurst, CEO of Worldbox, says there remains a recurring need within Business Intelligence software for the fine tuning, updating and monitoring of the data being fed into it, if it's to provide maximum value to clients.

"There is still much that cannot be handled with these new tools," he says. "Unless these packages are specifically tuned to client needs and use only relevant data to support decisions, they cannot yet adequately provide reliable insights.

"As such," he adds, "while the BI software market is projected to grow strongly; we see equally strong demand on the horizon for experts in data cleansing and research."

The importance of both areas should not be overlooked in favour of focussing on software sales growth, Ashurst explains.

"The ongoing requirement for hands-on monitoring and manually updating data to ensure it meets acceptable levels of accuracy and relevance before using it with such software means more data/information managers will be needed. At the same time, more data researchers will be required to source data where it isn't readily available, such as from developing countries and markets."

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