How to Keep Big Data Analytics Industry on Edge: A Guide by Top 10 Pioneer Companies

Did you know that more than 152,000 IoT devices could connect per minute by 2025? With the rising implementation of AI, ML, and IoT, the volume of data generated has risen exponentially. This is where big data analytics comes into play. Also known as data analytics, the technology is the backbone of modern-day edge computing. For the uninitiated, edge computing refers to a structure where processors, instead of clouds, are located much closer to the data source or destination. 

Powered by these factors, the market for big data analytics is likely to experience a rapid boom over the next several years. Fortune Business Insights™ predicts that this market’s valuation could reach USD 745.15 billion by 2030. It is also estimated that the market would register a CAGR of 13.5% between 2022 and 2030. The market stood at USD 271.83 billion in 2022 and is expected to reach the valuation of USD 307.52 billion by 2023.

Fortune Business Insights™ Presents the 10 Prominent Names of the Big Data Analytics Companies in the global Industry

1. IBM Corporation

IBM Corporation, the New York-based tech major, is a leading provider of big data offerings and is one of the top big data analytics companies globally. These include Cloudera big data, IBM Big Replicate for Hadoop, IBM Db2 Big SQL, and IBM Watson Studio. These tools help acquire, process and manage data with ultralow latency. Enterprises can leverage these tools for faster and better decision-making, enabling them to cut storage and analysis costs associated with large amounts of data.

July 2022: IBM Corporation acquired an AI startup Databand.ai to enhance capabilities for the entire IT infrastructure.

2. SAP SE

German IT giant SAP SE offers customer-centric products and services that help businesses make data-driven decisions. Its range of offerings includes data management solutions such as SAP data and analytics solutions, SAP Data warehouse cloud, SAP master data governance, SAP analytics cloud, and SAP HANA cloud.

July 2022: SAP SE took over Askdata, a company that offers search-driven analytics. With this acquisition, SAP aims to help enterprises make informed decisions by enhancing AI-powered natural language searches.

3. Microsoft Corporation

Microsoft Corporation, the Bill Gates-founded hardware and software services company, offers solutions that help users store and process a wide range of data seamlessly. This includes structured, unstructured, and real-time data. The tech major uses big data and analytics to collect, process, and analyze data.

April 2021: Microsoft Corporation completed the acquisition of software maker Nuance Communications, Inc. to deliver cloud strategy for healthcare and enterprise AI experience.

4. SAS Institute Inc. 

North Caroline, U.S.-based SAS Institute Inc. develops a variety of technology, including Hadoop, data mining, big data analytics, data management, in-memory analytics, predictive analytics, machine learning, text mining, and cloud computing to retrieve the most valuable information.

June 2022: SAS Institute Inc. acquired Hawaii-based Kamakura Corp. to expand its financial services offerings and SAS portfolio of financial risk management software.

5. Fair Isaac Corporation

Fair Isaac Corporation, popularly known as FICO, is a data analytics company based in San Jose, California. The company helps businesses make better decisions to unlock higher growth potential, maximize profitability, and enhance customer satisfaction. The range of services offered by the company includes customer development, decision management and optimization, debt collection and recovery, scoring solutions, and fraud protection compliance.

April 2021: Fair Isaac Corporation rolled out the FICO Platform. This solution enables customers to make data-driven decisions and earn industry honors in the technology market.

6. Oracle Corporation

Austin, Texas-headquartered Oracle Corporation is one of the world’s leading providers of extensive data services that help enterprises acquire, handle, sort, and process data. The company offers Hadoop-based data lakes for determination, analysis through oracle cloud SQL, and object storage. It is one of the leading big data analytics companies globally.

March 2021: Oracle Corporation upgraded its Autonomous Data Warehouse's first self-sufficient cloud data warehouse. The latest upgrade offers no-code tools that enable analytics to perform tasks that previously needed data scientists and engineers.

7. Salesforce Inc.

Salesforce Inc. specializes in delivering advanced analytics tools, including CRM analytics, to make the most out of data. The San Francisco, California-based firm offers robust analytics and reporting tools that collaborate to analyze data and act on it.

September 2022: Salesforce Inc. launched Salesforce Genie – a novel data platform. Salesforce plans to leverage the platform to run its customer 360 platforms, allowing businesses to enable improved customer experiences.

8. Equifax Inc.

Equifax Inc. is a leading provider of data analytics solutions that help transform knowledge and unlock better decisions. These tools help enterprises make better decisions and head towards a better life.

September 2022: Equifax Inc. unveiled the TotalVerify data hub, which enables users to secure data hubs by strengthening product innovation for fast-emerging business units.

9. TransUnion

Based in Chicago, Illinois, TransUnion specializes in big data and analytics tools that help supplement analytical resources and enhance analytical insights to leverage analytical tools and experts.

June 2022: TransUnion introduced an analytics and marketing clean room to transform the data-driven metrics into a privacy-first world. The solution enables privacy-enhanced technologies to ensure data privacy and protect against data deprecation.

10. QlikTech International AB

QlikTech International AB is known for its big data analytics tools such as big data ingestion, data replication and CDC, storage tools, and big data consolidation, including Hadoop Data Lake, preparing data for processing and deep analysis.

January 2022: QlikTech announced it would offer new data literacy consulting service offerings to enable business success. These tools enable enterprises to unlock greater data literacy rates while optimizing the value trapped in their data.

How to Generate Digital Transformation Strategies Using Big Data Analytics?

Amidst the bleakness caused by COVID-19 and its unprecedented impact, key end-use verticals, including healthcare, manufacturing, retail, and others turned to digital transformation. In July 2020, KPMG surveyed digital transformation strategy leaders across 12 sectors in 10 countries. Findings showed that over 67% of companies ramped up their digital transformation strategy. Additionally, around 63% of companies expanded their digital transformation budget.

The manufacturing sector turned to AI and IoT to fuel automation. The healthcare community, meanwhile, leveraged AI in the form of healthcare business intelligence, electronic health records, and other technologies. Widespread shift to work-from-home models further boosted reliance on digital solutions. Uncertainty around COVID-19 and the ongoing recession, and the continuing hybrid and work-from-home trends could benefit the market.