IDC published a report on the predictions of big data and analytics (BDA) for 2016. The report serves as a guideline for decision makers in their planning. Here’s a summary covering the salient points and how Minely aligns with these predictions.
1. Cloud Big Data Analytics Takes Off
“Through 2020, Spending on Cloud-Based BDA Technology Will Grow 4.5x Faster Than Spending for On-Premises Solutions,” IDC stated. Minely’s solution has been developed as cloud-first, a platform that is capable of running on commodity hardware. Our cloud offering caters for the small/medium sized businesses and is able to scale to handle petabyte-scale of data.
2. Prescriptive Analytics Comes to Age
“By 2020, 50% of All Business Analytics Software Will Incorporate Prescriptive Analytics Built On Cognitive Computing Functionality,” IDC predicted. Minely is investing heavily in this area by going beyond what’s about to happen, when it will happen and why, but provides predictions on any actions which are about to be taken and how those actions impact everything else.
3. Big Data Staff Shortage Remains a Problem
“Shortage of Skilled Staff Will Extend from Data Scientists to Architects and Experts in Data Management; Big Data–Related Professional Services Will Have a CAGR of 23% Through 2020,” IDC said. Our product which is offered as a SaaS solution targets this problem by empowering business users to use the product in a self-service fashion, thus reducing dependency on internal IT and specialized human resources.
4. The Future of Big Data Processing is In-Memory
“By 2020, 90% of Databases (Relational and Nonrelational) Will Be Based on Memory-Optimized Technology,” IDC stated. Minely’s core technology is based on Apache Spark, which is a lighting-fast in-memory computing cluster technology.
5. All Deployments Will Include Distributed Analytics
“By 2020, Distributed Micro Analytics and Data Manipulation Will Be Part of All Big Data and Analytics Deployments, ” IDC stated. Minely’s distributed technology is built on Apache Spark and the user interface abstracts all the complexity behind the technology by providing a drag-and-drop user interface that makes it easy to analyse, blend and manipulate big data.
6. Self-Service Goes Mainstream
“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,” IDC predicted. Minely provides a unified self-service platform – from data ingestion and data blending, to searching, visual discovery and automated actions. Minely empowers both data scientists and business users by providing different views for different user levels.
7. Data Monetization Gains Budget
“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,” IDC estimated. Minely supports secure sharing of data or dashboards with people inside or outside an organization as well as embedded within other software packages to provide a unified user experience. Minely’s data governance layer opens door for external data to be monetized and shared securely.
8. It’s All About Big Data Answers
“By 2020, the High-Value Data — Part of the Digital Universe — That Is Worth Analyzing to Achieve Actionable Intelligence Will Double,” IDC said. Forget the data, the value is in “Big Answers”. People don’t want data, but critical and accurate answers quickly. The Minely platform coupled with professional services is designed to ensure customer success.
9. Increase in Confidence
“By 2020, 60% of Information Delivered to Decision Makers Will Be Considered by Them Always Actionable, Doubling the Rate from the Current (2015) Level, ” IDC estimated. The increase in confidence means that IT systems should be intelligent enough to take the next best action. Minely goes beyond providing the necessary information to decision makers, but also provides a framework to take automated actions and easily measures the effectiveness.
10. Do or Die
“Organizations That Analyze All Relevant Data and Deliver Actionable Information Will Achieve Extra $430 Billion in Productivity Gains Over Their Less Analytically Oriented Peers by 2020,” IDC concluded. It is clear that the future is data-driven. Through the unified platform, Minely is perfectly positioned to act as the technology partner for digital companies that need to enhance and boost their market position through data-driven insights and actions.