Analytics is now a top priority 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda. 1 83 percent of enterprise executives say they’ve pursued big data projects to gain a competitive advantage. 2 40 percent of businesses say they need to manage unstructured data on a frequent basis. 3 Executives and other business stakeholders are now taking a leadership role in defining and implementing strategies for data and analytics. Big data adoption continues to accelerate Organizations from all industries are incorporating data and analytics into their business models to build better products, reach new customers, and streamline operations. Creating growth and opportunities Data analytics is proving its worth with growth in profits, reductions in costs, and job opportunities for practitioners. New obstacles are complicating progress The explosive growth in data, fueled by IoT and the digital economy, creates challenges, risks, and new demands for IT, Security Ops, and data scientists. New approaches are accelerating analytic insight delivery Analytics vendors, infrastructure providers, open-source communities, and industry specialists are collaborating to reduce barriers to entry and speed time-to-value with pre-integrated AI-driven industry-specific solutions that run on-prem and in the cloud. STATE OF THE MARKET The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027. 4 The number of IT professionals using descriptive and predictive analytics grew from the mid-40 th percentile to high-60 th percentile between January 2018 and January 2019. 5 Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments. 6 Data privacy concerns are rising. Nearly 60 million Americans were affected by identity theft in 2018. That’s an increase of 300% from 2017. 10 87 percent of organizations are classified as having low business intelligence (BI) and analytics maturity. 11 Data scientists are in short supply. More than 4,000 data scientist job openings were expected for 2019, up 56 percent from 2018. But supply is only rising at 14%. 12 45 percent of companies run at least some big data workloads in the cloud. 13 TCS Connected Intelligence Platform (CIP) is a scalable data analytics platform with unified data management capable of ingesting vast amounts of data from various sources to reduce time to insights. It provides an effective, flexible, and efficient way to accelerate the development and deployment of IoT, big data and analytics initiatives. Low code is accelerating insight development. Total spending is forecast to hit $21.2 billion on the category by 2022, representing 40% CAGR. 14 It is projected that AI augmentation will generate $2.9 trillion in business value and recover 6.2 billion hours of worker productivity by 2021. 15 dss.tcs.com @TCS_Digital Businesses that use big data saw a 10 percent reduction in overall cost. 7 More than 150 zettabytes (150 trillion gigabytes) of data will need analysis by 2025. 8 Businesses that use big data saw a profit increase of 8–10 percent. 9 Sources: 2,3,4,5,6,8 (Forbes 2018, 2019) 11, 15 (Gartner) 1 (McKinsey Analytics, 2018) 12 (LinkedIn) 7,9 (Entrepreneur, 2019) 13 (ZDNet, 2019) 10 (The Harris Poll) 14 (Forrester Research) IoT, BIG DATA AND ANALYTICS GROWING CHALLENGES GROWING OPPORTUNITIES Learn More Download Brochure

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Page 1: GROWING CHALLENGES GROWING OPPORTUNITIES

Analytics is now a top priority

53 percentof CEOs consider themselves the primary leader of their company’s analytics agenda.1

83 percentof enterprise executives say they’ve pursued big data projects to gain a competitive advantage.2

40 percentof businesses say they need to manage unstructured data on a frequent basis.3

Executives and other business stakeholders are now taking a leadership role in de�ning and implementing strategies for data and analytics.

Big data adoption continues to accelerateOrganizations from all industries are incorporating data and analytics into their business models to build better products, reach new customers, and streamline operations.

Creating growth and opportunitiesData analytics is proving its worth with growth in pro�ts, reductions in costs, and job opportunities for practitioners.

New obstacles are complicating progressThe explosive growth in data, fueled by IoT and the digital economy, creates challenges, risks, and new demands for IT, Security Ops, and data scientists.

New approaches are accelerating analyticinsight deliveryAnalytics vendors, infrastructure providers, open-source communities, and industry specialists are collaborating to reduce barriers to entry and speed time-to-value with pre-integrated AI-driven industry-speci�c solutions that run on-prem and in the cloud.

STATE OF THE MARKET

The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.4

The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high-60th percentile between January 2018 and January 2019.5

Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.6

Data privacy concerns are rising. Nearly 60 million Americans were a�ected by identity theft in 2018. That’s an increase of 300% from 2017.10

87 percent of organizations are classi�ed as having low business intelligence (BI) and analytics maturity.11

Data scientists are in short supply. More than 4,000 data scientist job openings were expected for 2019, up 56 percent from 2018. But supply is only rising at 14%.12

45 percent of companies run at least some big data workloads in the cloud.13

TCS Connected Intelligence Platform (CIP)is a scalable data analytics platform with uni�ed data management capable of ingesting vast amounts of data from various sources to reduce time to insights. It provides an e�ective, �exible, and e�cient way to accelerate the development and deployment of IoT, big data and analytics initiatives.

Low code is accelerating insight development. Total spending is forecast to hit $21.2 billion on the category by 2022, representing 40% CAGR.14

It is projected that AI augmentation will generate $2.9 trillion in business value and recover 6.2 billion hours of worker productivity by 2021.15

dss.tcs.com @TCS_Digital

Businesses that use big data saw a 10 percent reduction in overall cost.7

More than 150 zettabytes (150 trillion gigabytes) of data will need analysis by 2025.8

Businesses that use big data saw a pro�t increase of 8–10 percent.9

Sources: 2,3,4,5,6,8 (Forbes 2018, 2019) 11, 15 (Gartner)

1 (McKinsey Analytics, 2018) 12 (LinkedIn)

7,9 (Entrepreneur, 2019) 13 (ZDNet, 2019)

10 (The Harris Poll) 14 (Forrester Research)

IoT, BIG DATA AND ANALYTICS

GROWING CHALLENGESGROWING OPPORTUNITIES