IDC Asia Pacific just announced its top predictions for Big Data and Analytics, highlighting at the same time how organizations shall plan for the evolving Big Data and Analytics (BDA) landscape in the region.
The global provider of market intelligence expects organizations to achieve an extra US$65 billion in productivity benefits in the region over their less analytically-oriented peers by 2020.
"The majority of Asia Pacific organizations consider data as a strategic asset, but the ability to deliver actionable insights to decision makers quickly will differentiate the data-driven leaders in Digital Transformation", says Qiao Li, Senior Market Analyst, Big Data and Analytics, IDC Asia/Pacific.
Thus, IDC’s #1 prediction states that the adoption of Big Data and Analytics (BDA) will be accelerated by business disruption from Digital Transformation (DX) in the region.
With the digitalization of everything, the ability to make smarter, quicker, and more automated decisions and actions will increasingly become a competitive necessity. At the same time, barriers to entry will be lower as technology options are increasingly abundant with purpose-built tools that are designed for specific workload or use case, flexible pricing and deployment, the advisory firm explains.
"While managing on- and off-premises data can pose new challenges, data gravity will drive adoption of cloud-based BDA solutions as organizations adopt more adjacent solutions (e.g. SaaS-based CRM, ERP) over time”, says Chris Zhang, Senior Market Analyst, Software, IDC Asia Pacific. “Spending on cloud-based BDA technology will grow 3x faster than spending for on-premises solutions in Asia Pacific (excluding Japan) by 2020", he adds.
IDC reports that the rest of the predictions for the fast-evolving BDA market for the next three to five years include the following:
#2: Cognitive computing. By 2020, 40% of all business analytics software will incorporate prescriptive analytics built on cognitive computing functionality.
#3: Labor shortage. Shortage of skilled staff will persist and extend from data scientists to architects and experts in data management; Big Data–related professional services will have a 29% CAGR in Asia/Pacific by 2020.
#4: In-memory computing. By 2020, 75% of databases (relational and non-relational) will be based on memory-optimized technology.
#5: Distributed micro analytics. By 2020, distributed micro analytics and data manipulation will be part of 80% of Big Data and analytics deployments.
#6: Self-service. Through 2020, spending on self-service visual discovery and data preparation market will grow 2.5x faster than traditional IT-controlled tools for similar functionality.
#7: Data monetization. By 2020, data monetization efforts will result in enterprises pursuing digital transformation initiatives, increasing the marketplace's consumption of their own data by 100-fold or more.
#8: Analyzable data. By 2020, the high-value data — part of the Digital Universe — that is worth analyzing to achieve actionable intelligence will double.
Last but not least, IDC believes that as organizations realize benefits of data experimentation and innovation, the likelihood for them to become data-driven will increase. This requires not only technology acquisition, but also close collaboration between IT and the Line of Business, as well as transformation of architecture and processes. However, the lack of talent still remains to be the biggest obstacle to many organizations in the region.
To share more information about IDC’s Big Data and Analytics FutureScape document and implications for the Asian market, IDC Asia/Pacific is hosting a free webcast titled "Top 10 Big Data Predictions 2016" on January 27, 2016; to be led by IDC analysts, Chwee Kan Chua, Qiao Li and Chris M.Y. Zhang.
You can register for this webcast here.