IDC: Analytics a $51B business by 2016 thanks to big data

Market concerned to the business analytics software has been improved for the year 2011 by 14 percent and it is expected to hit total revenues of $50.7 billion by 2016, and the info is according to the IDC- market research firm. The complete segment is expected to grow high at 9.8 percent per year until then, as per the IDC predictions.

The biggest importance of the analytics software is that the big data has opened eyes of all companies in terms of insights. Platform technologies like Hadoop were letting the firms to store data in large and crunch types of data is not used traditionally.

Analytics software is one of the key components when it comes to the big data strategies. It is the stuff that allows companies to analyze as well as visualize the data. Vendors are recommended to retool their own products in this space. Many products are there for several years for the big data age.

According to the estimates of IDC, data warehousing is one of the fastest growing analytics for the year  2011, by increasing 15.2 %, and then followed by analytics applications with an increase of 13.3 percent and Business objects tools at 13.2 %.

By the dissimilarity, IDC in recent times predicted that the Hadoop – brand new market for software and other services will improve their business by 60 percent / year in anticipation of 2016, reaching almost $812.8 million from $77 million at this point of time.

 It is also predicted that the business for big data will definitely reach $16.9 billion by the end of 2015, which was $3.2 billion for the year 2010.

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