Use of big data fueling global storage market

Use of big data fueling global storage market

April 20

The data management landscape has undergone a serious shift in recent years, thanks to the growing popularity of big data. More firms are looking for ways to analyze their information to improve operational efficiency, understand their audiences more effectively and make more sound decisions based on these resources.

As companies embrace the possibilities of big data, they will likely need increased storage to support such workloads. A recent report by IDC said that storage infrastructure is expected to experience a compound annual growth rate of 53 percent between 2011 and 2016. Ashish Nadkarni, research director at IDC, said revenue during this time will grow from $380 million to nearly $6 billion.

“This growth will come largely from capacity-optimized systems (including dense enclosures), however, software-based distributed storage systems with internal disks to store post-processed data will also be embraced by some users,” Nadkarni said.

IDC said that more companies will transition from using analytics for primarily searching through big data to discovery of information, prompting greater spending on infrastructure and data solutions moving forward.

Employees need access to big data
Businesses that want to leverage big data to further corporate success may not have the option of passing up using analytics tools, because staff members often require access to this information for their decision-making processes.

A survey conducted by the Economist Intelligence Unit on behalf of Alteryx found that 77 percent of executives said employees need big data to make decisions, but 45 percent said personnel lacked this capability for their last important task. Rick Schultz, senior vice president of marketing at Alteryx, said businesses should understand that big data is not always strictly about the volume of information, but the value of such resources.

Schultz explained that organizations should understand that big data is not solely about volume, but value.

“Big data is extremely valuable to companies looking to solve their immediate decision-making challenges,” Schultz said. ” Delivering the right data to the right decision maker in a way they can understand – no matter where that data lives or what form it takes – is crucial, and companies need to make this easier in order to get maximum value from big data.”

Moving forward, the survey found that more than half of executives plan to invest in big data to support employees’ decision-making capabilities.

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