The Growing Need for Data Analytics

LONDON, Oct. 24, 2016 /CNW/ - New York, NY (10/24/2016) - A new research report from Transparency Market Research, indicates that the global big data market is expected to move from US$6.3 billion in 2012 to US$48.3 billion by 2018. This represents an astronomical growth of 40.50% CAGR for the global big data market. This growth can be explained by the increasing penetration of the Internet, particularly in emerging economies, and the increasing digitization of several industries. IDdriven Inc. (OTC: IDDR), Helios and Matheson Analytics Inc. (NASDAQ: HMNY), Red Hat Inc. (NYSE: RHT), Microsoft Corporation (NASDAQ: MSFT), International Business Machines Corp. (NYSE: IBM)

Data is valuable. Properly analyzing large data can reveal information that is crucial to constructing an efficient business plan. Data can reveal consumer behavior and how a company's product pipeline can be improved to maximize demand. Data can be broken down to regional or demographic characteristics, to show a company which regions and which population groups to target for better profits. Overtime, the popularity of social media has substantially increased the diversity of data being generated online. Since different types of data reveal different insights about a business, big data management has become a major concern of many companies.

IDdriven Inc. (OTCQB: IDDR) is an enterprise software company that has developed and is now launching the next generation in Identity and Access Management ("IAM") enterprise solutions into a demand driven market. The company's flagship product, IDdriven, is a next-gen hybrid cloud-based solution and a new software delivered as a service (Software as a Service or "SaaS"). The software is flexible, with a wide array of features, including Access Management, License management, Risk Management, Reporting, and more.

Last week, IDdriven Inc. announced it has been awarded with a contract from a government-owned West European utility company with about one thousand employees. This is a one-year contract, with automatic renewals, through a formal Request for Proposal (RFP) process, which is a months-long and a very competitive bidding process with due diligence conducted by the customer. It was revealed that the customer has implemented Phase I of the IDdriven solutions for identity and access management including life cycle management, reporting, facility access and related security functions across its divisions.

Chief Executive Officer of IDdriven Inc., Arend Verweij, commenting on the contract, "After competing directly against a lineup of IAM and IDaaS industry '800-pound gorillas', this is a big win for IDdriven… With a growing pipeline of valuable new business prospects, and having announced our new US Sales Director last month, we have strong marketplace momentum and expect our sales to accelerate now and throughout 2017."

Helios and Matheson Analytics Inc. (NASDAQ: HMNY) is an information technology services company, which offers its clients a suite of services of predictive analytics in the areas of application value management, application development, integration, independent validation, infrastructure and information management. Earlier in July the company announced that it has received Nasdaq Hearings Panel, which granted the request for continued listing on The NASDAQ Stock Market. The company's clients include Fortune 500 corporations.

Red Hat Inc. (NYSE: RHT) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Last week the company announced an alliance with Ericsson to deliver fully open source and production-ready cloud infrastructure, software-defined networking (SDN) and software-defined infrastructure (SDI). Ericsson and Red Hat are working together to enable customers to embrace the opportunity presented by the Internet of Things (IoT).

Large technology conglomerates like Microsoft Corporation (NASDAQ: MSFT) and International Business Machines Corp. (NYSE: IBM) have been shifting their investments from infrastructure technologies to analytics focused software, getting value out data. IBM, and Microsoft have all made multiple acquisitions in the analytics area in 2015. IBM's deals were focused on building Watson's cognitive computing platform. Watson is an artificially intelligent computer system capable of answering questions posed in natural language. The acquisitions include domain expertise with healthcare data and analytics.

One of Microsoft's most important acquisitions in 2015 is of Metanautix, a company specializing in helping large corporations filter through their enormous data collections. Metanautix's buyout fits into the company's bigger plan to build "the intelligent cloud," one of three key investment areas chief executive officer Satya Nadella.

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