3. The Cloud
Analysts believe much of that new spending will go towards cloud-based big data analytics (BDA) solutions. In fact, IDC forecasts, “Through 2020, spending on cloud-based BDA technology will grow 4.5x faster than spending for on-premises solutions.”
IDC adds that many of those cloud-based solutions will be based on open source big data solutions. Technologies like Hadoop, Spark, Storm and others have come to dominate big data analytics, and their prevalence looks likely to continue for the foreseeable future. All of the leading cloud computing vendors, like Amazon Web Services, Microsoft Azure, IBM and Google Cloud, offer big data analytics products, and many smaller firms offer cloud-based analytics products as well.