Strategic Intelligence: Data Analytics

Strategic Intelligence: Data Analytics

Summary

Human activity generates vast amounts of data, from databases containing information about citizens to user-generated content on social media platforms and sensor data generated by smartphones and industrial machinery. Many industry forecasts expect over 175 zettabytes of data to be generated by 2025. A zettabyte is as much information as there are grains of sand on all the world’s beaches. We are drowning in data, and making sense of so much information is becoming more difficult. Data analytics tools will be increasingly necessary to convert large amounts of complex raw data into valuable insights and actionable knowledge. The analyst estimates the total data analytics market will be worth $190 billion in 2028, implying an 11.1% compound annual growth rate (CAGR) between 2023 and 2028.

Key Highlights

• Data analytics is a relatively mature market, yet significant innovation has occurred in recent years. Prescriptive analytics is the most advanced innovation, aiming to tell organizations what to do next rather than just describing what happened and why. Machine learning (ML) techniques can now provide data-driven recommendations by parsing large amounts of data and assessing “what if” scenarios. The traditional data analytics vendors such as SAS, IBM, Oracle, and SAP are being disrupted by AI-native vendors, such as Cognitive Scale and H2O.ai, which aim to help companies automate operational decision-making using ML. Furthermore, the emergence of generative artificial intelligence (AI) tools has led data analytics vendors to embed those solutions in their platforms, democratizing access to data science capabilities. For instance, Microsoft has launched Copilot, embedding ChatGPT into analytics products such as Excel and PowerBI.
• The ability of generative AI to create highly sophisticated models and simulations from vast datasets raises significant concerns about the potential misuse of personal information. The risk of exposing sensitive data increases as these AI systems become more adept at generating detailed, realistic outputs. This calls for stringent data governance frameworks.

Scope

• This report provides an overview of the data analytics theme.
• It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
• It includes a comprehensive industry analysis, including market size and growth forecasts for the global data and analytics market, alongside analysis of trends in the analyst's proprietary signals data, including M&As, venture financing, patents, company filings, and hiring.
• The detailed value chain is split into four segments: hardware, data management, applications, and delivery.
• Also included are profiles of leading players in the data analytics theme, including Alphabet, Amazon, IBM, Microsoft, Oracle, Salesforce, and Snowflake.

Reasons to Buy

• Data analytics help us go from raw data to useful insights and actionable knowledge. This report is an invaluable guide to a theme that is relevant to every company in every industry.