Few dispute that the best business decisions are data driven, or data informed, at least. But, if you’re looking to build a comprehensive data strategy in this quickly evolving ecosystem, be sure to keep the following five key industry trends in mind:
For full context on these trends, be sure to read the full post on Data Center Knowledge. Below, we offer some additional data points and a whole slew of resources to help you think through the trend’s potential impact on your big data strategy. You might want to bookmark or share this one.
The gist: “While the IoT has already emerged as the next mega-trend, it will continue to grow beyond just hype. Companies must actively change their strategy and infrastructure to harness the power and insight of IoT technologies and their data.”
The stats: The number of connected devices is predicted to rise by 285 percent, says Juniper Research.
Learn more: Big Data Analytics and the Internet of Things eBook. This free eBook explains why the IoT is top of mind for businesses today, and outlines 3 use cases on how data-driven companies are capitalizing on the IoT.
The gist: “Big data also allows companies to find new revenue streams with new data-driven products and services. […] Customer analytics is traditionally considered the primary use case for big data analytics. However, as companies better understand their customer base, use cases will expand from external to internal – making operational analytics the main use case.”
The stats: Gartner has been maintaining and updating a toolkit for big data use cases (for paid Gartner clients) that now totals more than 100 different scenarios.
Learn more: The use cases may be exploding, but, five use cases in particular quickly rise to the top. This eBook, the Top 5 High-Impact Big Data Use Cases breaks them down for you.
The gist: “As companies recognize the advantage of sidestepping Hadoop hardware requirements, which become outdated every 18 months, cloud adoption will surge.”
The stats: Forrester predicts that by mid-2016, nearly three-quarters of companies will use cloud-based BI.
Learn more: Analyst firm Ventana Research has a free paper, “Five Best Practices in Cloud-Based Analytics“, to help you understand how cloud-based analytics can empower business users and share big data insights across your organization.
The gist: “Mitigating the complexities of mashing up real-time and historical data will become a focal point – pointing toward technologies like Kafka and others.”
The stats: Forrester Research’s new Big Data TechRadar report found that “the number of firms implementing streaming analytics, a key leading-edge big data technology, more than doubled between 2012 and 2015.”
Learn more: Start from the beginning with this post on Streaming Analytics Explained. Then, you can dig in on specific streaming data use cases with this episode of Big Data & Brews, featuring Kafka co-founder and Confluent CEO, Jay Kreps.
The gist: “As big data has grown as a technology category, multiple companies emerged with individual products that provided a solution for a portion of the space. This has forced customers to buy multiple tools and learn how to use them together. Customers are seeing that multiple tools often slow down the process, create data redundancies, and complicate compliance. This is driving them toward more integrated, comprehensive stacks. Likewise, industry consolidation is reaching critical mass. A number of acquisitions have taken place over the last two years as larger organizations try to fill holes in their offerings, shrinking the number of pure-play, standalone big data vendors.”
The stats: Over on ZDNet, Andrew Brust outlined 14 recent acquisitions in the BI and Analytics space, using them as lessons to plan for what more’s to come.
Learn more: All this goes to say the market is moving quickly, and there’s a lot to consider when purchasing tools to support your larger big data strategy. This free Big Data Analytics Buyer’s Guide outlines the importance of big data and provides you with an in-depth checklist to help you pick the right big data analytics platform for you.