MOUNTAIN VIEW, Calif., Dec. 10, 2013 /PRNewswire/ -- Data is an intrinsic component of any organization, ushering in the "Golden Age of Big Data" as companies learn to harness data to enhance operational and revenue performance. Stratecast | Frost & Sullivan identified more than 20 large solution providers (out of approximately 340 providers analyzed) who control much of the Big Data, analytics and business intelligence (BI) market. So behemoths rule, but hundreds of providers dot the battlefield. Smaller players typically offer a higher degree of specialization and more affordable services, as new offerings continually enter the market.
New analysis from Stratecast | Frost & Sullivan's The World Moves Fast, and Data is Driving – Part 2, Competitive Strategies research finds that Big Data, analytics and BI market revenue was $22 billion in 2012. Stratecast | Frost & Sullivan forecasts the market to grow at a cumulative annual growth rate (CAGR) of approximately 12.7 percent to reach $40 billion by 2017. This analysis spotlights issues and challenges hampering market growth; presents market size, forecast and shares; and recommends strategies to help providers survive the coming consolidation. The research also features Stratecast's Data Management Model, a 12-part guide covering all data management functions and characteristics when implementing a solution, as well as Stratecast's Data Management Shopping List to build a business case around direct, indirect, and opportunity costs.
For more information on this research, please email Britni Myers, Corporate Communications, at email@example.com.
"Simply stated, Big Data must be woven into the organization's fabric as the lifeblood of the company," said Stratecast | Frost & Sullivan Big Data and Analytics Global Program Director Jeff Cotrupe (http://www.frost.com/jeffcotrupe). "This happens without employees realizing they're actually accessing Big Data; at all levels, employees are simply informed and empowered to make smarter decisions and do their jobs better."
The most prohibitive market restraint is the price tag of a unified, comprehensive solution, with full-service options often requiring upfront software investments in the tens of millions of dollars and higher. This prices many companies out of the market for a Big Data solution.
Stratecast | Frost & Sullivan analysis finds Hadoop is a cost-effective solution, making Big Data more affordable, while also enabling organizations to manage all types of data. Another alternative to reach a broader cross-section of buyers and do more with less is via cloud-based Big Data solutions. Birst and GoodData are the best examples of cloud providers who succeed by making Big Data more affordable for more companies and by making Big Data readily accessible to business users.
"We find vendors must adopt the principles of self-service, business-user-friendly Big Data access," said Cotrupe. "The leaders break away from the pack not only by providing cost-effective solutions, but because of their focus on empowering business users to get the information they need, fast – and independently of central IT or data control."
Big Data and IT systems must be in sync and avoid divergence, or else a legacy "overlay data network" splits functions, and potentially companies. So integrating Big Data from all sources, and integrating Big Data with existing IT infrastructures, are two important components of Stratecast's 12-part Big Data model.
The World Moves Fast, and Data is Driving – Part 2, Competitive Strategies is part of the Stratecast (http://stratecast.frost.com) program, which analyzes the four segments of the Big Data market: Big Data Core Platforms, Solutions, and Services; Online Analytics; Customer Experience Analytics; and Mobile Commerce and Retail/Wi-Fi Analytics. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with participants on both the demand and supply sides of the market.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Corporate Communications – North America
SOURCE Frost & Sullivan