IDC predicts data-driven organizations to achieve extra USD65 billion in productivity benefits by 2020
18 Jan 2016
Singapore, 19 January, 2016 – IDC Asia/Pacific recently announced its top 10 predictions for Big Data and Analytics and highlights how organizations shall plan for the evolving Big Data and Analytics (BDA) landscape in the region.
IDC expects Asia/Pacific organizations able to analyze all relevant data and deliver actionable information to achieve an extra US$65 billion in productivity benefits 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.
The adoption of Big Data and Analytics (BDA) will be accelerated by business disruption from Digital Transformation (DX) in Asia/Pacific. 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.
"While managing on- and off-premises data can pose new challenges, data gravity1 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", adds Ms. Zhang.
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.
In closing, 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, and transformation of architecture and processes. However, the lack of talent still remains to be the biggest obstacle to many Asia/Pacific organizations.
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.
To register for this webcast, please click http://event.on24.com/wcc/r/1106676/B8FEB8254F4994EC51B679A26A595BC4
IDC’s Top 10 Big Data and analytics predictions for the Asia/Pacific market are presented in full detail in the following FutureScapes documents:
• IDC FutureScape: Worldwide Big Data and Analytics 2016 Predictions APEJ Implications (AP40492015 )
• IDC FutureScape: Worldwide Big Data and Analytics 2016 Predictions (IDC #259835 )
For inquiries on any of the FutureScapes documents, please contact your IDC account manager or Shari Jane Jansen at email@example.com . For media inquiries, please contact Tessa Rago at firstname.lastname@example.org or Alvin Afuang at email@example.com .
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About IDC FutureScapes
IDC FutureScapes are used to shape IT strategy and planning for the enterprise by providing a basic framework for evaluating IT initiatives in terms of their value to business strategy now and in the foreseeable future. IDC's FutureScapes are comprised of a set of decision imperatives designed to identify a range of pending issues that CIOs and senior technology professionals will confront within the typical 3 year business planning cycle.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG , the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com . Follow IDC on Twitter at @IDC
1. The concept of data gravity: The bigger the data set becomes, the greater the overhead the organization takes on in its transport, storage, archiving, analysis, and search. With small amounts of data, this overhead is not material. For larger amounts of data, the implications of data gravity become much more material. The bigger the volume, the greater the gravity and the harder it becomes to move the data.
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