We now live in a world where a flood of customer data is all around us. Extracting meaning from that data deluge is a strategic imperative for business leaders. Global spending on 'big data' applications by organizations will exceed $31 billion in 2013, according to the latest market study by ABI Research. The spending will grow at a CAGR of 29.6 percent over the next five years, reaching $114 billion in 2018. The latest ABI forecast includes the money spent on internal salaries, professional services, technology services, internal hardware, and internal software. "We estimate that in big data initiatives salaries account for about half of the current spending, with the other half allocated to vendor products and services. What we're now seeing is quite significant overspending on salaries, as organizations turn to data scientists and other specialists in order to leverage big data in the first place," said Aapo Markkanen, Senior analyst at ABI Research . Si...
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