In an Asia Pacific report just released, global research and market intelligence firm, IDC predicts a five year compound annual growth rate of 46.8 percent from last year to 2016, with storage growing at 51.6 percent, networking by 55.8 percent and services 48.3 percent.
According to IDC Research Director Asia/Pacific Big Data and Analytics, Craig Stires, the Big Data market in Asia/Pacific is building the momentum that will deliver a “strong acceleration in 2–3 years time,” and he says that organisations that start that process now may find themselves with a 12 to 18 month “competitive advantage over those who wait."
"Business use cases with measurable results include real-time crime prevention in financial services, and peer influencer mapping for churn prevention in telecommunications."
“The pull-through opportunities for infrastructure and adjacent software will be just as significant,” Stires says.
And, Stires’ IDC colleague, Daniel-Zoe Jimenez, Program Manager of Asia/Pacific Big Data and Analytics, and NextGen Enterprise Applications Research, points out that Big Data creates new opportunities for data analytics in finance, network analysis, human genomics, healthcare, surveillance, and many other areas.
However, according to Jimenez, Big Data also exacerbates some of the data-related issues of the past, including security and privacy, data quality, data integration, and storage.
“CIOs should design an information strategy before undertaking a Big Data project.
"Big Data requires organisations to rethink their technology architectures, processes, and skill sets in order to attain the real value of this phenomenon. Organisations that have already developed an effective business analytics program are positioned to be the first adopters of Big Data technology and approaches," Jimenez concludes.
IDC says that many Asia Pacific organisations are starting to investigate the new technologies in order to capture, manage, and analyse data that is high in volume, velocity, or variety in an affordable way.
The research firm also says that although there are multiple scenarios that could unfold and many demand and supply variables remain in flux, it still expects the market to exhibit strong growth over the next five years.
Defining Big Data technologies as a new generation of technologies and architectures designed to extract value economically from very large volumes of a wide variety of data by enabling high-velocity capture, discovery, and/or analysis, IDC says that the attention to this market has been increasing substantially during 2012, and is being looked at as a “potentially huge disruptive force across industries.”
“Large-scale collection, storage, modelling, and analysis of data are financially accessible to more organisations. Technologies for scale-out infrastructure, in-memory analytics, and real-time information processing are changing how organisations are viewing their existing business processes,” Stires says.
Other key findings in the IDC study include:
• Asia/Pacific has markets with unique traits, such as population megacentres, distributed manufacturing hubs, and fluid regulations on data sharing, which are creating significant new opportunities with Big Data
• The growth in appliances, Cloud, and outsourcing deals for Big Data technology will likely mean that over time end users will pay increasingly less attention to technology capabilities and will focus instead on the business value arguments. Data governance, security, and storage are some of the fundamental areas that CIOs will need to increase focus on in the context of Big Data
• Challenges introduced by Big Data are not only related to technology or processes, but also to people – in particular, the level of skills sets. Similar with the case of advanced analytics where there has traditionally been a shortage of skills, an inhibitor to growth of big data analytics tools could be the insufficient number of analysts with appropriate analytics skills.