Businesses today need automation to make processes faster and to stay ahead in the competition. Report generation and scheduling can save a lot of time of employees and can increase productivity of employees. CEOs can concentrate more on business. Analytics provide better insights to CEOs/managers to take better decisions based on data rather than own beliefs.
Source: Kdnuggets, Wikibon, http://www.kdnuggets.com/2015/04/wikibon-big-data-market-forecast-2020.html
According to a recent study, big data market is going to reach $61 Billion by 2020.
How much do companies spend on Big Data?
Industries are spending huge amount of money for implementing Big data and Analytics.
Why do companies spend huge money on Big Data and Analytics?
- Companies can have better financial performance.
- CEOs/Managers can take better decisions.
- Companies can achieve better operational efficiency
- Companies can reduce costs.
- Companies can get better ROI for investment in Big data and Analytics.
In coming years, Business Intelligence and Big data will play a big role in deciding success or failure of any organization. Demand for, Business Intelligence solution will increase and thus, will create new employment opportunities, increasing growth of many countries.
Reference. Forbes (Forbes.com)