Market Trends of Hadoop Big Data Analytics Industry
This section covers the major market trends shaping the Hadoop Big Data Analytics Market according to our research experts:
Retail Sector to Witness the Growth
- The retail industry is witnessing a significant transformation through advanced analytics and Big Data technologies. With the growth of e-commerce, online shopping, and high competition for customer loyalty, retailers are utilizing Big Data analytics to stay competitive in the market.
- In the retail sector, Big Data analytics is used at every retail stage to understand customer behavior, predict demand, and optimize pricing. Most of the Big Data applications in retail are for system-wide cost reduction, improving online and in-store customer experience, data-driven adaptive supply chains, and real-time analytics and targeting.
- Vendors, such as MapR technologies, are offering a Big Data platform that helps retailers store, integrate and analyze a wide variety of online and offline customer data, e-commerce transactions, clickstream data, email, social media, and call center records, all in one central repository.
- Recently, fashion retailer H&M started using Big Data to tailor its merchandising mix in its brick-and-mortar stores. The fashion retailer uses algorithms to gain insights from returns, receipts, and data from loyalty cards to enhance its bottom line.
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North America Region is Expected to Grow at a Significant Rate
- Some include IBM Corporation, Microsoft Corporation, SAS Institute, Inc., Alteryx, Inc., Fair Isaac Corporation, and Microstrategy Incorporated, among others. Recently, Microsoft extended the partnership with Hortonworks, which was instrumental in bringing the open source Big Data analytics and Apache Hadoop to the Cloud. This partnership by major players to enhance their product offerings is anticipated to positively drive the market's growth over the forecast period.
- The growth of new business insights is contributing to the expansion of the Big Data analytics market in the United States. Big Data is helping many companies in the region to improve customer experience, enhance marketing, identify fraud and waste, and achieve other results that directly strengthen business performance.
- Many new tools in the US are making data more and more accessible. Much of the technology required to harness the Big Data and expertise needed to create working environments are complex. However, many end-user-friendly solutions are continuously growing, enabling businesses to start with an off-the-shelf package and with less hardware integration and coding skills needed.
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