- According to market research firm IDC, annual data generation will reach 35 zettabytes or about 35 million petabytes by 2020.
- That is enough data to fill a stack of DVDs reaching halfway to Mars, or 17.5 million times the entire collections of all the academic libraries in the United States.
- As a result, business intelligence has become an eight billion dollar industry and continues to increase each year. Global Industry Analysts released a report in July projecting the BI software market will reach $12.4 billion by 2015.
- In May, Forrester came out with a report on the state of the BI industry, finding 49 percent of companies are planning a BI project in 2010 or soon after.
I think that the BI market is expected to be bigger than what IDC is projecting based on my own experience, analysis, research trends and continuous work with BI think-tanks. There are lot of other trends like location analytics and predictive which will make BI even more pervasive in next 2-3 years.
Now, this ties pretty neatly into my earlier blogs on Big Data and huge amount of innovation happening in this space. Keep blogging... (See my blog entry from February 2010)