This Frost Radar focuses on the global Big Data analytics market. It divides the market into 2 major segments: data discovery and visualization (DDV) and advanced analytics. Both are experiencing a growing interest from investors and have attracted millions of dollars in funding committed to product enrichments, expansion into new industry verticals, and development of distribution partnerships to meet the growing demand for analytics. DDV remains the major market contributor, and is expected to continue in this position through 2023. Vendors are aggressively marketing their advanced analytics offerings, but customers are still grappling with effectively using analytics to make business decisions and prove return on investment.
The market is driven by organizations realizing the operational advantages of using BDA to make more informed decisions, improved data prep, and DDV empowering organizations to better target consumers and measure the effectiveness of their marketing campaigns. Access to cloud- and subscription-based models is expanding adoption among organizations with limited budgets, particularly in the small and medium-sized business segment. Vendors also are increasing their market share through acquisitions and expanding their presence in the edge analytics market.
Despite the drivers, overall market growth is restricted by the lack of customer data hygiene and data standardization. This makes it difficult for BDA customers to justify ROI as they still scramble to manage and make sense of their data. In the United States, only 42% of organizations investing in BDA solutions realized ROI in the first 2 years. Sunken investment in homegrown solutions, a lack of skilled labor, and long sales cycles also restrict market growth.
The space is crowded with at least 30 companies vying for market share, though only 11 are profiled in this Frost Radar. Leading vendors SAS, IBM, Qlik, Splunk, Tableau, and TIBCO; mid-tier vendors including FICO, SAP, Alteryx, and MicroStrategy; and niche vendor Palantir have all seen a surge in demand. Competitive factors include depth and breadth of product line, customer verticals served, geographical footprint, mergers and acquisitions, partnerships and funding activities, price-performance ratio, and scalability and interoperability.
The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the edge ecosystem and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Author: Deviki Gupta
Strategic Imperative
Strategic Imperative (continued)
Growth Environment
Growth Environment (continued)
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SAS
TABLEAU SOFTWARE (SALESFORCE)
TIBCO
IBM
SPLUNK
QLIK
FICO
ALTERYX
PALANTIR
SAP
MICROSTRATEGY
Strategic Insights
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FROST Radar™: BENCHMARKING FUTURE GROWTH POTENTIAL
FROST Radar™: BENCHMARKING FUTURE GROWTH POTENTIAL
FROST Radar™: BENCHMARKING FUTURE GROWTH POTENTIAL
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
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Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
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This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
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Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
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| Deliverable Type | Frost Radar |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Deviki Gupta |
| Industries | Information Technology |
| WIP Number | K441-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9523-D1,9702-C1,9705-C1,9820-C1,9A5B-C1 |
FROST RADAR™: Global Big Data Analytics Market, 2020
Benchmarking Future Growth Potential
24-Apr-2020
North America
Frost Radar
