Analytics Insight Indicates a Huge Growth in Big Data by 2023

Big Data is a powerful technology that has the potential to have a significant impact on today's world.

According to a survey conducted by Analytics Insight, most of the organizations responded that they feel over the past few years, big data has been a game-changer in most modern industries. As Big Data continues to pervade every sector's day-to-day operations, the emphasis has shifted from the speculation to seeking actual value in its use. Analytics Insight predicts there will be a major growth of usage of big data by 2023.

According to the survey, the highest adoption of big data is seen in BFSI sector with a share of 15.3%. Big Data services have emerged as a significant player in the BFSI field, assisting them in a variety of ways to enhance customer service while also increasing efficiency and profitability. Next comes the telecommunication and IT industry with 12.3%. These industries have always been among the first to implement data-related technologies. Big Data assists them in increasing profitability by assisting in the optimization of network use and facilities, as well as improving customer experience and security.

This is followed by government & defence that is seeing 10.4% of the technology's adoption. The government has always shown a positive view in embracing new technology, especially big data, in order to improve accountability and deliver services to people more effectively. In the current world, big data is used in the defence sector for surveillance, intelligence gathering, target prioritization, interaction, and post-strike damage assessment.

Next is the manufacturing sector with 10.2% big data acceptance. Manufacturers place a high value on big data. It assists the manufacturing industry in improving production processes and extracting data from a variety of devices in order to increase production, efficiency, automated operating workflow, and maintenance expenses. The survey further finds that healthcare and life sciences use big data across multiple areas of their functioning, contributing to the adoption rate of 9.6% respectively. Next up are transportation at 9.1%, retail at 8.1%, others at 7.0% and 4.3% at media and entertainment industry.