Analytics spending worth $58.6 billion

cashA report from IDG said that spending on analytic services is worth $58.6 billion this year and will soar to £101.9 billion 2019.

That’s a compound annual growth rate (CAGR) of 14.7 percent.

IDC said that business analytics is now a “backbone technology” in this cloud driven age.

But there’s a problem as well as opportunities – there’s a shortage of talent coupled with a high interest in enterprises transforming their business using it.

Business analytics spending will grow across all lines in the coming years.

The research shows that there’s high growth not only in enterprises themselves, but in the outsourcing sector too.