Whenever we are discussing the benefits of big data, we happen to talk in future terms!
This general attitude ties in with the hype cycle theory attributed to big data!
What that really means is that although most of the venture capital funding interest and activities in big data companies are now over; most of the technologies and tools like Apache Hadoop, Cloud, or R have already been implemented. Most of the large organizations like Google or Facebook have already made investment promises of double-digit billions of dollars, the Industrial Internet has already enabled parallel back-end and real-time analytics. All the major industries sectors like energy, oil, or transportation have already integrated big-data analytics in their business operations. How much of the projected ROIs will actually be realized by the big claims of the big data technology still remains to be seen.
To counter this air of skepticism, Wikibon has published a series of research notes on specific verticals like retail, utilities, banking, or media to prove how actual businesses utilized big data analytics to improve operational efficiency and performance. Complementing this research, Wikibon has also produced an infographic.
The good news is that in 2012, Wikibon published a detailed assessment report of the projected big data market between 2012 and 2017 titled Wikibons Big Data Vendor Revenue and Market Forecast 2012-2017, which includes actual revenue figures that big data products or services vendors are generating from their businesses.
The Real World of Big Data
The aim of this infographic is to distill the essential findings of Wikibons research and market analysis of big data.
The infographic is divided into the following segments:
- Where Does It Come From highlights the industry sectors that have adopted big data, the technologies associated with big data, and the general market size of big data.
- Big Data Market Breakdown and Growth Drivers show the projected revenues of each big data sub-segment, and the key propellers behind the growth of big data.
- Big Spenders on Big Data highlights the top few big data technology adopters and investors in the industry.
- Big Data investment Sectors talks about two key topics: Industries that have made significant investments in big data, and future opportunities for investment in big data-related technology.
- Big Data in Motion illustrates some industry use cases which should convince the skeptics that big data is not hype. Some of the included, industry use cases are Sears dynamic price optimization; the real-time marketing campaign analysis by Lyris, or Bristol Myers big data analytics to support drug discovery.
It attempts to make the point that there are enough big data success stories from global industries to warrant ongoing exploration of this burgeoning field of technology.