The rising importance of big data to big business

Big data

Analysis of large volumes of information is increasingly used by businesses to gain an advantage. A new infographic produced by big data specialist Datameer looks at how it’s being used to gain a competitive edge.

Among the highlights are that the global Hadoop Market is projected to be worth $50.2 billion by the year 2020, a huge increase from the $1.5 billion it was worth in 2012.

North America is currently the biggest investor in big data at 37.8 percent, though Asia/Pacific businesses plan to increase their investing by 106.6 percent, bringing them to a close second. Looking at usage by industry, financial services lead the way, followed by technology and communications companies.

The most popular use of big data is to analyze customer behavior, with 48 percent of users. It allows businesses to look at the customer journey, reduce churn rates, increase revenue and improve existing products.

Operational analytics is carried out by 21 percent of companies to improve supply chain efficiency and help with IT analytics and network planning.

You can see the full infographic below (click to view a larger version) and read more on Datameer's blog.

Big data

Photo Credit: Maksim Kabakou/Shutterstock

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