According to the research of the Big Data & Business Analytics Observatory of the Politecnico di Milano, presented at the conference “Data Culture & Generative AI: towards a new data experience?”, the Italian big data market is expected to experience double-digit growth in 2023.
The Italian big data market is worth € 2.85 billion. Large companies account for 83%, while micro-businesses and SMEs account for 17%. Italian companies invest in infrastructure, software, and services for management and data analytics. Spending in this field is growing by +18%.
The cloud drives the growth (27% of the market), especially in manufacturing, telco, and media.
Manufacturing registers the highest growth in the last 12 months (+25%). By contrast, the growth dynamics of large-scale retail, public administration and healthcare sectors align with the market average.
The banking sector ranks first in terms of budgets for data management and analysis concerning ICT expenditure. Banks, telcos and media are the biggest spenders in ICT.
Professional figures for exploiting data in organisations are becoming established and widespread. 77% of large Italian companies have already hired a Data Analyst, 49% a Data Scientist and 59% a Data Engineer.
However, the skill shortage will still remain an emergency in 2023. 77% of the interviewed companies have experienced difficulties in finding the skills they need. In 4 out of 10 SMEs, the required person for analysing data is missing.
57% of the sample have data visualisation and reporting software in use, but use is sporadic, and the investment is modest. The spreadsheet is still the most widespread tool.
Data Strategy Index
The Big Data & Business Analytics Observatory has created a Data Strategy Index, an index that assesses the maturity of companies by measuring three areas:
- Data Management & Architecture (means, skills and processes for technology management, data integration and information asset governance);
- Business Intelligence and Descriptive Analytics (basic tools and skills for pervasive Business Intelligence);
- Data Science (predictive analysis and optimisation from data analysis).
2023 results are shown in the graph below.
Nowadays, large Italian companies have adopted business intelligence solutions on an established basis. 93% of Italian companies surveyed use at least one data visualisation and reporting tool. However, only one out of two companies monitor their employees’ use of these tools.
Regarding generative AI, Italian companies expect that generative AI will increasingly support the daily work of data scientists and data engineers, thanks to AI Code Assistant, for developing and maintaining algorithms and integrating synthetic data into analytical models.
New ways are also being explored to extract insights from emails, surveys and internal documents and better manage corporate knowledge.
Executives and managers of Italian companies reckon that a good data culture is a priority, both on the demand and supply side.
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