Big Data has yet to take hold in Brazil, but some verticals (e.g., finance, telecoms, retail) are exploring projects with IT companies who provide solutions for fraud analytics, real-time analytics with in-memory computing, and online and digital analytics, to name a few. These solutions offer clear return on investment such as reduction of churn rate, customer retention, and predictive analytics. This study offers insights on the future of Big Data and analytics in Brazil by discussing market drivers, restraints, trends, and forecasts. Three major predictions are also offered. The study base year is 2013 and the study period runs from 2013 to 2018.
Revenue for the Brazilian Big Data market was $ million in 2013. Revenue is expected to reach $ million by 2018 at a % compound annual growth rate (CAGR).
The growth speed of internal and external data created a problem for Brazilian companies that were not prepared to process all of the information, increasing the time spent on some routine processes. With that in mind, in 2013 some enterprise companies started to work with vendors to understand how Big Data solutions could help solve these problems and provide a competitive advantage.
The year 2013 was no better for this market, mainly because most Brazilian companies still had no idea as to how Big Data can help and change their businesses.
Return on investment (ROI) was another restraint in the acquisition of Big Data solutions because vendors have difficulty presenting a clear ROI to their prospects due to the complexity of these projects. Some vendors are breaking these projects into several deliverables and objectives to have a clearer ROI.
Many solutions offered by the vendors require extensive IT expertise from customers. Because of the low concentration of these experts in the Brazilian market, companies are starting to ask themselves if this is the right time to invest.
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