Big data and analytics is set to accelerate thanks to business disruption caused by digital transformation within businesses across the Asia Pacific region, according to new research from IDC.
As part of its top 10 predictions for Big Data and Analytics, IDC highlighted how APAC organisations should plan for the evolving BDA landscape, and is forecasting spending on cloud-based BDA technology to grow 2x faster than spending for on-premises solutions.
IDC expects Asia Pacific organisations able to analyse 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 organisations 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", explains Qiao Li, senior market analyst, Big Data and Analytics, IDC Asia Pacific.
According to the analyst firm, with the digitalisation 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 organisations adopt more adjacent solutions (e.g. SaaS-based CRM, ERP) over time”, explains 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," says 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:
Cognitive computing. By 2020, 40% of all business analytics software will incorporate prescriptive analytics built on cognitive computing functionality.
Labour 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.
In-memory computing. By 2020, 75% of databases (relational and non-relational) will be based on memory-optimised technology.
Distributed micro analytics. By 2020, distributed micro analytics and data manipulation will be part of 80% of Big Data and analytics deployments.
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.
Data monetisation. By 2020, data monetisation efforts will result in enterprises pursuing digital transformation initiatives, increasing the marketplace's consumption of their own data by 100-fold or more.
Analysable data. By 2020, the high-value data — part of the Digital Universe — that is worth analysing to achieve actionable intelligence will double.
IDC says that as organisations realise 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 organisations.