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Stratecast built its first-ever estimate of the size and growth of the global market for Big Data, analytics and BI solutions organically by triangulating data on contributory markets with the best available data from both users and providers of these solutions.
How Stratecast Built Its Current Market Sizing and Forecast for the Big Data, Analytics, and Business Intelligence Market
The promise of Big Data and analytics is that these emerging technologies will power a new era of growth and change that will rival the impact of the PC in the 1980s, the Internet in the 1990s, and mobile social networking in the 2000s. Those who succeed in harnessing Big Data’s power will no longer drown in data, or suffer from analysis paralysis. They will have the information they need, when they need it, to make better and more timely business decisions.
Yet, Big Data suffers from a similar set of problems as a number of other IT innovations. One of these is a lack of clarity in the value proposition: too few providers and prospective users offering a clear return on investment (ROI), or even a defensible rationale for why they should deploy a Big Data solution. Another, which is actually a key contributing factor to the first issue, is an ultra-competitive, fragmented market with a multitude of providers spinning various and often conflicting messages about what constitutes a “Big Data” solution. As such, while previous estimates of the global market for BI solutions from other sources have ranged as high as $ - billion annually, Stratecast, in November 2013, developed market sizing figures and a growth forecast reflecting, we believe, a more reasoned assessment that takes those limiting factors into account. Conversely, this is true despite Stratecast taking a more complete view than some others of the technologies that comprise the Big Data market.
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