By 2015, companies will spend nearly $17 billion on Big Data technologies, and the total Big Data market is predicted to approach $50 billion by 2017.
The implications of those massive investments are still being sorted out, but thanks to predictive and prescriptive analytics, we confidently can say that Big Data is well-positioned to deliver a compelling ROI.
But before you dive head first into this new world, you need to get a handle on Big Data and its applications. Here are five principles regarding Big Data that successful companies understand.
1. Companies that embrace Big Data will outperform competitors in virtually every financial metric
Mastery of Big Data applications will enable you to create a significant competitive advantage in your marketing programs. According to Gartner, companies that invest in Big Data more than their competitors do outperform those competitors by 20% in every major metric.