No review is complete without taking a sneak peek at what’s coming next. In our last blog, we discussed noteworthy Big Data events that stood out in 2014. One of trends that had already been forecasted in projections for 2014 is that Big Data spending will continue to increase. IDC has projected that Big Data will reach $125 billion worldwide in 2015. This growth rate is three times faster than originally anticipated.
In turn, as spending increases, there should be a natural uptick in Big Data deployments. Right now, plenty of people are investing dollars into Big Data solutions, but to this point, deployments have largely been at a standstill.
One of the biggest drivers for Big Data in 2015 and beyond is rich media analytics. According to the same IDC report, rich media analytics include image, video, and audio analytics. Rich media analytics will at least triple in 2015, and for many enterprise organizations, rich media analytics projects are highly prevalent. If you stop and think about this development, it makes sense given the proliferation of unstructured files organizations are accumulating from a wide variety of sources – with social, mobile, and collaboration tools leading the way.
Speaking of the enterprise, Big Data has turned into a strategic necessity for organizations to maintain a competitive market advantage. Forrester declared that Hadoop will become an enterprise priority in the next 12 months. And within the next 2-3 years, the presence of data visualization tools and Big Data will become commonplace.
The question is, can IT and business leaders execute these large-scale implementations? For enterprise decision-makers, the answer needs to be yes, as the gap keeps widening between the organizations that can make sense of their data versus the ones that can’t.
DataInformed wiped off their crystal ball to forecast other trends that should capture 2015:
- Predictive analytics will become more prescriptive, delivering more problem-solving insight instead of mere predictions
- Despite large volumes of data being tied to Big Data analysis, smaller volumes of data (or little data) is just as valuable to analyze
- Decision-making as a whole will become less gut and intuition-based
What are your thoughts on Big Data for 2015 and beyond? Let us know.