Today, structured data represent only 15% of data produced every day, the remaining 85% is unstructured like music, movie etc.
FROM PROCESSING STRUCTURED DATA TO PROCESSING UNSTRUCTURED DATA
Even if a very large data warehouse can be conceived, they are limited to structured and semi-structured data.
The data will, therefore, be managed in standardized formats to facilitate access to information and processing speeds.
A study published by McKinsey in 2014 reported that 131% is the percentage of ROI that companies obtain, compared to their competitors, when their managers and executives have access to an adequate analysis of the data from big data.
Customer management: when offering content to its customers it records their behaviors in order to offer them personalized programs and contents:
You can have all the data in the world, but if you don't know how to use it for your business benefit, there's no point in sitting on that raw information and expect good things to happen.
The solution - Big Data Analytics - helps to gain valuable insights to give you the opportunity to make business decisions more effectively.
Data Analytics operation is divided into four big categories.
The purpose of descriptive analytics is to show the layers of available information and present it in a digestible and coherent form.
For example, you have the results of the marketing campaign for a certain period of time.
Depending on the model, the efficiency is calculated using goal actions like conversions, clicks, or views.
Big Data Software MarketAccording to Market Research Future Analysis, the global Big Data Software Market is estimated to generate revenue of approximately USD 39 billion by 2023 growing at a CAGR of 13% during the forecast period 2017-2023.
Big data software’s are enterprise-class information technology platforms, providing features and functionalities for developing, deploying, operating and managing big data by patterns recognition, correlations, trends discovery, and other from huge datasets.
The global big data software market is anticipated to grow at a CAGR of 13 % during the review period of 2017 to 2023.Market ScenarioGrowing Big Data And Potential Applications Expanse Is Driving A Large MarketThe worldwide digital healthcare data reached a quantum figure of around 500 petabytes in 2012 alone and which is anticipated to reach 25,000 petabytes by 2020.The applications of big data include differentiating pricing strategies and price optimization, search engine optimization (SEO), advanced forecasting of patterns, better sample selection and others.
The business opportunities include quantification of the link between actions and revenues, higher market penetration, better customer targeting and engagement, economies of personalized medicine, real-time data for feedback and brand equity, corrective actions for customer switching, greater product differentiation, not to mention better customer satisfaction.Growth In Capacity And Capabilities In Technology Are Driving Greater AdoptionAdvances in database management and technology such as relational and parallel database architecture, development of data specific languages such as python, R and others are driving faster adoption as big data software’s are now capable of handling large and complex data sets.
Development of big data platform that blends traditional technologies suited for structured data, with new technologies designed to manage unstructured data address speed, flexibility, advanced analytics, ideal for data exploration, discovery, and unstructured analysis.
The increase in adoption of smart devices and the shift to digital technologies are significant drivers of market growth.Technology giants such as IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), HPE (U.S.), SAP (Germany), Amazon Web Services (US), SAS Institute (U.S.), Dell Technologies (U.S.).
Big Data Software MarketThe global big data software market is projected to witness a rapid growth during the forecast period.
High growth opportunities in the emerging economies and high adoption of analytics software are the major factors driving the growth of this market.
FREE PDF@ https://www.marketresearchfuture.com/sample_request/4974The global big data software market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World.
The U.S. and Canada are anticipated to drive the growth of the North American big data software market owing to the presence of a large number of established key players such IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), HPE (U.S.), SAP (Germany), Amazon Web Services (U.S.), SAS Institute (U.S.), Dell Technologies (U.S.), Teradata (US), Splunk (U.S.), Palantir Technologies (U.S.), in this region.
Due to the high data generation by enterprises in the region, the market is likely to show a modest growth in the coming future.
Based on the component segment, the market is bifurcated into software and services.
