Published on November 7, 2018

Real time analytics is the new challenge

By Osservatorio Big Data Analytics & Business Intelligence, SCHOOL OF MANAGEMENT Politecnico Milano

Big Data Analytics boom in Italy: most companies seem to have finally understood the inestimable value of data as the investment has been reconfirmed as a priority in 2018, for four consecutive years. Those who have been able to overcome the time of uncertainty are now taking advantage from new products and services, more efficient processes and safe, tangible return on investment. Figures show that, even though it could be acceptable in the past, it is now no longer possible to miss the new opportunities offered by Big Data Analytics and, in some cases, to run the risk of being excluded from new markets, if not even from those in which companies are already operating. Big Data Analytics Italian market confirms its expansion in 2018, thus reaching an overall market value of 1,393 billion euro, having increased more than 26% in comparison to the previous year. Results that confirm the positive trend of the last three years, in which a 21% growth rate over twelve months has been reported in this market. 45% of spending in Analytics is dedicated to software (database and tools to acquire, process, view and analyze data, applications for specific business processes), 34% to services (software customization, integration with company information systems, process redesign) and 21% to infrastructure resources (computing, server and storage capacity to be used in the creation of Analytics services). The evolution of the Big Data Analytics market, however, goes well beyond the numbers. In fact, the greatest benefits derive from a smart analysis process, using sophisticated machine learning algorithms that are able to identify data patterns and correlations and to transform this knowledge into concrete actions that allow companies to acquire competitive advantage. In this sense, about a third of large companies have already acquired the necessary skill.

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