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One of the primary drivers for the phenomenal growth in dynamic real-time data analytics today and in the coming decade is the Internet of Things (IoT) and its sibling the Industrial IoT (IIoT). One group has declared , “IoT companies will dominate the 2020s: Prepare your resume!” trillion by 2030. trillion by 2030.”.
The rise of self-service analytics democratized the data product chain. Suddenly advanced analytics wasn’t just for the analysts. 2019 was a particularly major year for the business intelligence industry. However, businesses today want to go further and predictive analytics is another trend to be closely monitored.
It is a key capability that will address the needs of our combined customer base in areas of real-time streaming architectures and Internet-of-Things (IoT). It meets the challenges faced with data-in-motion, such as real-time stream processing, data provenance, and data ingestion from IoT devices and other streaming sources.
According to a recent Forbes article, “the prescriptiveanalytics software market is estimated to grow from approximately $415M in 2014 to $1.1B in 2019, attaining a 22 percent compound annual growth rate.” From smart cities to connected cars, IoT devices provide invaluable, live data streams.
By 2025, 80% of organizations seeking to scale digital business will fail because they do not take a modern approach to data and analytics governance. of organizations who participated in an executive survey back in 2019 claimed they are going to be investing in big data and AI. Source: Gartner Research). Source: TCS).
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