Big Data solutions are fueling a demand for more and wider varieties of data every day. Value-added content (VAC) is an emerging market. Social media, blog posts, Web transactions, industrial data, and many other types of data are being aggregated, curated, enhanced, and sold to organizations hungry to understand their customers, products, and the markets in which they exist.
Big Data and analytics (BDA) solutions are fueling a demand for more and wider varieties of data every day. Much of this data - approximately 90% of all digital information - is unstructured or partially structured information. To effectively build comprehensive BDA applications and solutions, most organizations require social media data, competitor information, public data, and other types of external information that is often not easy to collect, aggregate, or curate. According to the 2013 IDC and Computerworld business analytics survey, 48% of organizations purchase or subscribe to external data or content from either public or commercial sources. While all organizations keep track of their inventory, orders, and sales, many simply do not collect or keep or analyze the right types and variety of information that can be used in conjunction with this operational data. In order to handle this additional information new classes of information vendors have emerged to offer this kind of value-added content. We recently published a report titled "Value-Added Content: A Growing Market for Information" highlighting this new trend.
We're seeing unparalleled growth in the amount of information that organizations generate and collect internally, yet in order for organizations to make the right sorts of decisions data coming for external sources is also necessary. In order to fuel this demand for data, existing information vendors are adding additional types and varieties of data. In addition, a raft of new vendors and data start-ups are emerging. Companies like Gnip, DataSift, InfoChimps and ZoomInfo are responding to the needs of organizations collecting wide ranges of data in many different ways such as web scraping and crowd-sourcing, curating, linking and generally adding value to the data that they collect.
Social media data is not the only type of information being collected. Sensor data, geological data, wind speeds, temperatures and even aggregated product catalogs are all examples of different types of data that is being collected, curated and monetized. A number of companies collecting this type of data have already been acquired by larger organizations such as IHS, CSC, SiriusXM, and several others. In addition, consumer facing organizations like Google and Facebook are also collecting information and data sets for use by their users.
IDC sees this value-added content as a growing area of the economy, and this content together with Big Data and analytics and unified information access will become part of a growing ecosystem of solutions in the next decade. Best practices in incorporating content into enterprise applications have still not been defined, and business models for monetizing content are in flux. These and other related topics will be addressed in subsequent IDC research and reports about the VAC market. We'd love to get your thoughts about this new and emerging market