Big Data applications have gained new momentum in the marketplace, as the benefits of working with larger and larger data sets enables analysts to spot key business-related trends. International Data Corporation ( IDC ) released a worldwide forecast of Big Data opportunities, noting that the market is expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015. This represents a compound annual growth rate (CAGR) of 40 percent -- or about 7 times that of the overall Information and Communications Technology (ICT) market. "The Big Data market is expanding rapidly as large IT companies and start-ups vie for customers and market share," said Dan Vesset, program vice president, Business Analytics Solutions at IDC. IDC believes that for business technology buyers, opportunities exist to use Big Data solutions to improve operational efficiency and to drive innovation. Use cases are already present across industries and geographic regions. "There are also Big D...
Digital Business Transformation Journal