The big data analysis market - Italy

1.1 Introduction

The big data analytics market refers to the ecosystem of products, services and solutions used to analyze, manage and derive value from the large volumes of heterogeneous data produced in various industries and business processes.

Big data analytics is divided into four main types:[Nextre]

• Descriptive analysis: Interprets raw data, focusing on past events to guide future decisions. An example might be the analysis of total products in inventory.
• Predictive analysis: Predicts future outcomes based on data and estimates, such as producing a credit score.
• Prescriptive analytics: New to the field of big data analytics, it suggests various future actions based on predictions to guide the organization toward a solution.
• Diagnostic analysis: Seeks to understand the 'why' behind an event or outcome, using techniques such as drill-down and data mining to uncover the root causes of an event.

Human interest in storing and consulting information is ancient. In 1865, people began talking about business intelligence, understood as a way to gain a competitive advantage by collecting and analyzing relevant information. In 1880, a U.S. Census employee created the first automatic computation system, reducing the work of cataloging from 10 years to 3 months. This inventor, Herman Hollerith, later founds IBM. Almost a century later, IBM continues to develop Business Intelligence, understood as the ability to learn relationships between events to guide future business decisions. In 1965, the first data center in the U.S. was established, and shortly thereafter the first framework for a relational database was created, a model that underlies most databases today. In 1991, with the birth of the Internet, data becomes accessible to everyone, everywhere. The 1990s saw a marked development of the field, culminating in 1999 with the appearance of the term"Big Data" and the beginning of theInternet of Things discourse.[Themarketingfreaks]

The size of the global big data analytics market has been estimated at $271.83 billion in 2022 and is expected to grow from $307.52 billion in 2023 to $745.15 billion by 2030.[Fortunebusinessinsights]

This study focuses on the big data analytics market in Italy. For information on related markets, such as the cloud services or artificial intelligence markets, please refer to the specific studies available in the Businesscoot catalog.