Australian big data market booming
Australian enterprises are increasing their spending on big data, with budgets now rivalling those of customer relationship management software, but most enterprises remain at a low maturity level.
These are among the key findings of research from analyst company Telsyte into the Australian big data and analytics market, which also indicates that 83% of Australian CIOs plan to invest more on big data in 2017.
But despite the renewed interest, Telsyte’s research indicates that 63% of enterprises remain at a low maturity level, classed as on the static, active or tactical stage of Telsyte’s six-stage maturity model.
But the proportion of countries at the strategic, dynamic or optimised high-maturity stage has increased from 29% in 2014 to 37% this year.
Organisations plan to implement big data across a range of applications, including financial modelling, customer interaction, security and fraud detection, retail and e-commerce as well a IoT and machine-to-machine infrastructure.
Around a third of CIOs are meanwhile looking to use big data for sales and marketing applications, making it one of the top three line of business use cases — but only 15% of marketing departments have so far adopted the technology.
The survey also shows that big data analytics is now in the top five of enterprise applications managed by third-party service providers, which Telsyte said indicates a lack of in-house capability to access large data sets.
Among organisations embracing big data, platforms and managed services are the top priorities in terms of budgets.
The market for big data support services is being contested by global players including IBM, AWS, Dell, Google, Microsoft, SAP and Oracle.
There is also a strong local industry, with vendors such as Contexti, EngineRoom.io and YellowFin emerging.
“Just collecting and processing data is half the story. Australian business leaders must use real-time analytics to gain business value from data and transform their decision-making from reactive to proactive,” Telsyte Senior Analyst Rodney Gedda commented.
“The local big data services space remains ripe for consolidation with a number of service providers growing quickly in the past 12 months.”
At the current rate of change, 98% of receivables across all Australian businesses will comprise...
A local version of San Francisco's LAUNCH festival will be hosted by NSW in 2018 and 2019.
The annual Innovation Summit will be held by Schneider Electric in Sydney, May 2017.