Companies continue to invest in big data: according to Transparency Market Research, the market is on track for a CAGR of over 40 percent through the next four years. As spending ramps up, however, businesses are looking for specific solutions to target analytics pain points — here are three trends to watch through 2015.
Systems of record (SOR) already provide significant value for companies to access stored data. But according to Tech Republic, the coming year will put a “re-emphasis” on SORs as a way to tap big data insight. It goes like this: the sheer volume of data being stored by companies has massive value but poses a problem — how do businesses identify key relationships? By adapting SORs to query big data sets in addition to traditional storage spaces, it’s possible to get the best of both worlds.
Research firm, Gartner, meanwhile, predicts a new direction for analytics: invisibility. According to David Cearley, Garnter VP and Fellow, “analytics will become deeply, but invisibly embedded everywhere.” Instead of moving data to an analytics app for evaluation, Gartner sees the rise of apps that naturally contain analysis tools. Expect 2015 to be a starting point for this trend as businesses come to terms with the need for both highly visible, enterprise-wide systems and granular, invisible applications.
Cloud-based business continuity is a hot topic, but doesn’t usually cover big data. Financial, HR, and other information needed for day-to-day operations often takes top priority, but this is changing as analytics become a critical part of business strategy. As a result, companies need a way to access data sets and have a formal plan in place to migrate this information back to company servers. In effect, analytics continuity is quickly becoming a boardroom priority.
2015 is poised to be a year of innovation, change and growth for the analytics market. Expect a new emphasis on SORs, the rise of “invisible” analytics, and a new focus on business continuity for big data.