Big Data is referred as the collection of data sets so large and complex that it is not possible to process it in traditional way. The digitization and networking process has generated large amount of data. The Big data analytics can create intelligent solutions for economy and society. Big data consulting and analytics have potential to sustain these data and help in shaping the organization.
Big data consulting enterprises has made their strong hold in the Data analytical market as small, medium and large enterprises are implementing big data in their business operations. Big data consulting provides expertise in data analytics and support to the enterprises.
The global recognition of big data has broadened the path for many data consulting companies to invest in data analytics market. Global intelligence firms such as CBIG consultancy have gained an impressive 25% increase in its customer base during the year 2017. It has further announced to increase the focal point and client base in United States in the year 2018.
NewVantage partners are strategic advisors in business innovation to Fortune 1000 companies in leveraging Big Data and analytics to drive innovation and business transformation. In a survey report of NewVantage Partners, 73% of respondents said they received measurable value from big data which suggests that more value is being achieved as companies are growing familiar with these technologies.
Big data has brought boon as well as bane to Big data consulting enterprises. Non-expertise personal, non-awareness among SME’s, minimal Investment on data analytics by SME’s, infrastructure, non-positive response from clients and storage of data are some of the challenges that big data consulting enterprises are coming through.
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The big data consulting services has initiated providing the data and analytics services with trained expertise personal. The services help to increase operational efficiency, development of business model and providing on premise or cloud infrastructure for storage of Big Data. Tata Consultancy Services, a leading global firm in data and analytics services has come up with big data platform known as Digital Reimagination for consulting approach which will reimagine their clients business by leveraging the modern big data system.
The advancement and rise in usage of network technology has made the way for further investment, innovation in big data and analytics services. Big Data Partnership, a consulting firm and subsidiary of “Teradata” got investment of £4.4 million ($5 million) from 2014-2015 with “Beringea” being the lead investor. Machine learning with big data is projected as media for managing and analyzing the data of the companies. Hortonworks, IBM, Amazon web are the firms who have introduced their respective data storage and analytics tool such as Spark, IBM BigInsight and Amazon web services storage.
Further, Hadoop has always remained dominated in the market because of its open source. The big data consulting can be implemented in various fields, like infrastructure, supply chain, smart cities, transportation and others. According to the 2017 annual report by Atos, a renowned European IT Services Corporation has achieved revenue of €12,691 million ($1.01 trillion) in fiscal year 2017. The company revenue grew by 10.1% year on year.
In another annual report of Tata Consultancy Services, a leading firm in IT services, consulting and business solutions provider generated the revenue of $19.1 billion in fiscal year 2017-2018. The company revenue grew by 4.4% over prior year. The growth of big data consultancy will grow at a fast pace as more enterprises has begun adopting the technologies to remain in market.
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