Over the last couple of years, big data has been one of the biggest trends to emerge. Most companies today have a good understanding of the concept, but many are still confused about how to unlock its true business potential. According to a recent Gartner report, 85 percent of Fortune 500 companies are not well-prepared to exploit big data.
IDC, a leading global market intelligence firm, says that the big data and analytics market will reach $125 billion worldwide in 2015. Visual data discovery tools, in particular, will grow at a rate 2.5 times faster than the rest of the business intelligence market.
In 2014, data security became a major concern for companies, especially as the media was full stories of security breaches at many large companies, such as Target and Home Depot. According to Mandiant’s M-Trend Report on IT security, attackers spend about 229 days on a victim’s network before they are discovered and almost always use legitimate credentials.
As the adoption of connected devices continues to grow and data becomes more interlinked, security threats and their ability to spread will become an even bigger challenge. Data analytics can be used to proactively spot unusual patterns and set up alerts to escalate them to the right people.
Rich Media Analytics
Image, video, and audio analytics are expected to grow in importance in 2015. According to IDB, rich media analytics will at least triple in 2015 and become a key driver for big data technology investment. Today, half of the large organizations in North America report using rich media data as part of their big data analytics projects.
While Europe, the Middle East, and Africa have been increasing their usage of Hadoop, driving value from stored data is still a time consuming and costly process. In 2015, experts predict analytics on Hadoop will become easier to use and more accessible to users, regardless of job role or technical knowledge. Self-service analytics will help anyone within an organization gain business insight in real-time.
This year, industry experts predict that a growing number of businesses will use analytics around Developer and IT Operational (DevOp) to deliver what customers are looking for. For instance, when releasing a new mobile app or a feature, companies can analyze the data generated as customers interact with it, to measure performance, identify issues, and improve the tool. As a result, software products will get to market faster and really incorporate customer feedback.
According to ComScore, more than 60 percent of consumers’ time spent online with retailers is on a mobile device. Omnichannel retailers realize that mobile apps are becoming as valuable as the website for sales and customer experience. Experts believe that analytics will be important in ensuring that the customer experience is as good on mobile applications as it is online. Many retailers plan to match analytics across platforms to better understand how customers interact with a brand, and to develop personalized marketing strategies based on behavior patterns.
Staffing for Big Data and Analytics
According to IDC, there is a shortage of skilled workers with knowledge and experience in big data analysis. They anticipate that there will be 181,000 deep analytics roles in 2018 in the U.S., and five times that many positions requiring skills in data management and interpretation.
WANTED Analytics, a leading provider of data analytics on the workplace, reveals that the demand for computer systems analysts with big data experience increased by 89.9 percent in 2014. Demand for Python programming experience increased by 96.9 percent in big-data related positions. And there was a 123.6 percent jump in demand for Information Technology Project Managers with big data experience.
Growth in Demand for Big-Data Positions
Source: WANTED Analytics
The leading industries with the most job openings requiring big data expertise include professional, scientific and technical services, information technologies, manufacturing, and retail trade.
Top Industries Hiring for Big Data
Source: WANTED Analytics
The median salary for professionals with big data experience is $103,000 per year. The markets with the greatest job volume include San Jose, San Francisco, Washington D.C., New York City, Boston, Seattle, Dallas, and Chicago.
Market Distribution of Salaries for Professional with Big Data Experience