Forecast for 2023 on Big Data Analytics Trends

The market for big data analytics is growing more quickly. An estimated $215 billion would be spent by businesses in 2021 on developing big data and business analytics solutions. As a result, there is a growing need for data analytics experts. Researchers from the U.S. Bureau of Labour Statistics noted a 31% increase in the field of data science until 2030. Today’s corporations view information as a crucial corporate asset. This year, big data analytics is becoming increasingly important for enterprises.

How are “big data” seen by businesses? Many people associate big data with mountains of information collected from consumers through targeted advertising. But it goes so much further and wider than that. In order to get a competitive advantage over rival companies in their field, organisations are currently using big data as a beneficial practise.

What is driving all of this growth, though? According to the DataToBiz analysis, the worldwide big data market is anticipated to generate 103 billion US dollars in sales by 2027. Statistics tell a thousand words about the growing application of big data with AI, ML, and other technologies, despite the fact that the present BI and analytics software market is currently valued at 16 billion USD on a global scale. This is said to be igniting the so-called “Fourth Industrial Revolution.” Organisations were forced to shift their primary attention to data and analytics in 2022 as a result of a sequence of events, including Russia’s invasion of Ukraine, a chronic worldwide epidemic, and a supply chain catastrophe. For More:- https://www.sganalytics.com/blog/top-big-data-trends-and-predictions/