Big Data ‘To Drive More Spending’

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The growth of big data is set to be a major driver in increased IT spending by enterprises in the next few years, a report has concluded.

International Data Corporation's (IDC's) latest forecast on spending – contained in its Worldwide Semiannual Software Tracker – has indicated that spending growth in 2013 is set to be much less than originally projected at 4.3 per cent in US dollar terms, rather than the 5.7 per cent projected in May; however, this was not due to lower spending but the effects of a substantial depreciation in the value of the Japanese yen. In constant dollar terms, the growth is around 5.9 per cent, close to the annual average of six per cent for the 2012-17 period projected by IDC.

The report listed collaborative applications, structured data management software and data access, analysis and delivery solutions as the areas of fastest growth, with spending on these set to rise by eight per cent over the five-year forecast period.

Another variation is that between advanced economies like Japan, the US and Europe – where overall growth was 5.4 per cent this year – and emerging economies, where it was 8.2 per cent.

A factor set to spur growth everywhere is the increased use of data by enterprises who would not have used such technology in the past.

Research director for enterprise applications and digital commerce at IDC Christine Dover commented: "Enterprises are starting to implement applications that either didn't exist or weren't needed in the past, such as commerce applications in all industries, not just retail, but also manufacturing, hospitality, food and beverage and even the public sector.

"IDC is also seeing applications in categories that didn't exist in the past for requirements that may have been met using custom applications or manual processes."

One sector that could use IT more is the legal profession, partner at legal firm Bond Dickinson Joanna Bromhead suggested last month.

She told The Lawyer magazine that using electronic documents that could be swiftly tweaked made handling cases easier than it is when dealing with large bundles of paper.

Storetec News/Blogs. "http://www.storetec.net/news-blog/big-data-to-drive-more-spending/". Big Data ‘To Drive More Spending’. November 25, 2013. Storetec.