There’s a saying that “data is king.”
For many years, this became the goal for many Fortune 500 companies, as many of the largest organizations essentially became data compilers as a second form of business (for example, Facebook or Google.) There was an arms race to collect as much data as possible on consumers - who they were, what they did, and what they bought.
However, the importance placed on data has shifted towards other business objectives. Yes, data is important. And yes, it is extremely valuable. But, if you don’t know what to do with the data, or how to use the data, or how to store the data, the data in of itself becomes totally worthless. In reality, knowing how to use the data is the end goal — and now big data and analytics companies are king.
The importance of this industry can be seen in the BlueStar Big Data & Analytics Index (ticker: BDATA), which tracks the largest and most liquid companies that derive at least 50% of their revenues from solutions focused on database management, data platforms, dev-ops, big data analytics, or API Management. Though it has slowed down in recent months, BDATA is up nearly 39% YTD. With the world accumulating more and more data, big data and analytics companies should continue to soar.
30/06/2020-30/06/2021
Source: MV Index Solutions. All values are rebased to 100. Data as of 30 June 2021.
Get the latest news & insights from MarketVector
Get the newsletterRelated:
