Enterprises in many different verticals, such as automobile manufacturing and financial services, are implementing big data projects to better analyze information. Cloud storage hardware is a key enabler of big data success because it provides businesses with more options for backing up and quickly accessing company files and applications.
Big data adoption is ramping up across the board. According to research from Bain Insights reprinted in Forbes, the communications and media sector will spend $1.2 billion on big data in 2015. Additionally, it will increase spending by 40 percent each year until 2020. The energy/utilities industry may follow a similar growth trajectory, with 54 percent growth between 2015 and 2020. Big data expenditures in verticals like government and software will rise at a slower pace.
What are companies getting from their big data initiatives? The primary advantages include improved decision making and execution. For example, a company that properly uses analytics may be twice as likely as it competitors to place in the top quartile of financial performance.
Writing for Forbes, JP Blaho of SunGardAS went into more specifics, examining how automobile manufacturers were leveraging big data and cloud storage to improve operations. Data generated by automobile services like OnStar and GPS devices could turn into valuable business analytics, but many companies in this space have not implemented cloud infrastructure to handle it. With the right solutions in place, the large amounts of data can be put to use.
"Utilizing cloud-based recovery and cloud-based storage can propel organizations like auto manufacturers to go beyond the [business impact analysis] and look at their business from the user's point of view, by analyzing the data from the car, and innovating from it without impacting their IT infrastructure or their manufacturing costs," wrote Blaho.