Big data is the buzzword for many entrepreneurs and businesses. It is high time every organization leverages big data analytics services to make the best decisions. This article shows how big data adoption has increased in all sectors to fuel business growth, and the uses across different industries. The data insights from today’s post is based on Dresner Advisory Services’ 2017 big data analytics Market Study (Courtesy: MicroStrategy).
This report reveals the end-user trends and different use cases of big data analytics. It shows that big data adoption reached 53% in 2017, which is a 3-fold increase since 2015. There has been a significant surge in big data usage and a large drop of those with no plans to adopt big data during 2015-17.
Information Technology (IT) has become the highest adopter of big data, although industries such as finance are planning on future use. This indicates how big data is becoming from being an experimental endeavor to a more practical pursuit within companies.
Here is how big data is being utilized across different industries:
- Top functional areas employing Big Data
Reporting, dashboards, advanced visualization, end-user “self-service” and data warehousing are the top areas which necessarily employ business intelligence. The usage of big data ranks 20th out of the top technologies such as Internet of Things (IoT), cognitive Business Intelligence (BI), Location intelligence and natural language analytics.
- Top industries using Big Data Analytics
53% of organizations are using big data analytics as of 2017, which is a threefold increase from 2015. Telecommunications and financial services were the most active adopters of big data. And, Technology and Healthcare industries were the next to make the best use of big data analytics. Also, it is worthy to note that the Education sector had the lowest adoption in 2017, with a majority of the institutions looking forward to evaluate big data analytics in the future.
- How is Big Data used?
Data warehouse optimization was the top use case of big data analytics 2017. This is followed by customer/social analysis and then predictive maintenance. About 70% of those who took survey, reported that data warehouse optimization is critical to their organization. Also, it’s interesting to observe that IoT is the least use case in terms of big data analytics.
- How do the top industries use Big Data?
Big data analytics use cases differ according to each industry, with data warehouse optimization being used vastly by every industry. Financial Services, Healthcare, and Telecommunications showed high number of use cases in terms of data warehouse optimization. Fraud detection use cases also dominate Telecommunications and Financial Services.
Big data has seen an incredible performance across business sectors, as new data technologies and solutions continue to evolve. Considering the golden value of data for every enterprises, the big data and analytics providers plays a vital role in extracting the quality data and delivering them in the best way possible.
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