Rapid development in big data analytics has led to increased investment

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Blog 2 Rapid development in big data analytics has led to increased investment

Big data is nothing new. In fact, big data has taken on a new lease of life in the last five years, largely as a result of companies finding new ways to analyse data.


Now it's cheaper to process the data, companies are getting real insight from it

Anyone who has ever buy some thing on Amazon will have noticed this,  in the form of "customers who offered this object additionally bought...". What type of affect does that have on sales? 35% of Amazon’s income come from product recommendations, in accordance to GP Bullhound's report. Similarly, Walmart used huge records analytics to enlarge finished on-line sales by using approximately 10-15%.

Big data analytics saw nearly $1.4 billion of VC funding in the last 12 months

Venture capitalists have started to look at big data analytics with increasing scrutiny. In the last 12 months, they invested $1.37 billion into various companies, an increase of 217% over investment in the previous period. There were 19 deals in the last quarter alone, according to GP Bullhound's report. But why  this increased investment is taking place? It is because Big data is now enterprise-ready, for example it is commercially useful and it is now cheaper to store and process this data and increases in computer processing speeds mean that more businesses can leverage big data analytics.

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