The increasing access to Big Data in this world of connectivity has opened up the possibility of gaining deep insights that can help businesses take relevant, strategic decisions that can spur growth. No wonder then that the Big Data market is expected to grow from USD 28.65 Billion in 2016 to USD 66.79 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 18.45%, according to MarketsandMarkets Research.
The growth in Big Data in itself is not as significant as the ability to cull insights and forecast future trends. As a result, Zion Market Research expects the global predictive analytics market to grow at a CAGR of 21 per cent from USD 3.49 billion in 2016 to approximately USD 10.95 billion by 2022.
Given the complexity of data, data visualization tools have become critical to presenting the data in ways that can help understand the dynamics between data elements better. Charts, videos, infographics and even virtual reality and augmented reality presentations are being used for more engaging and intuitive insights.
The visualization tools convert numeric algorithmic outputs into images that help in an intuitive understanding of the depth and range of the data in an easy-to-interpret format. Therefore, the visualization is …