There is no doubt that big data has become a growth market, and is becoming one of the few on-premises projects seeing increased spending, as companies move less data-sensitive functions to the cloud. But where's the needed talent?

Analyst Insight: Radically changing market conditions in the global pharmaceuticals industry are creating volatility in supply and demand, as well as affecting customer service levels and costs. Pharma companies are also faced with impending margin pressure from generics. In this environment, pharma executives are looking to improve efficiencies, understand emerging market customers and be better prepared to meet financial objectives. Supply chain analytics provides pharma supply chain executives with powerful tools to maintain a competitive edge. – Jay Welsh, Principal, and Srihari Rangarajan, Manager, Ernst & Young LLP

Analyst insight: As the global competitive landscape evolves, businesses are looking to gain an edge by leveraging big data, using sophisticated analytics to uncover insights and help drive performance. One industry that is behind the curve is manufacturing – primarily automotive, mining, life sciences and consumer packaged goods. But that may be changing as a result of a rekindled focus on improving operational efficiency and the necessity for organizations to utilize their supply chains as a competitive advantage. – Amber Morgan, Senior Manager, Supply Chain Analytics Lead, EY

It's easy for tech-savvy executives to get excited about Big Data and advanced analytics these days. Newly available tools allow companies to do things they couldn't do before, like recommending specific products to online buyers or mining workers' compensation claims data to recommend better treatment options for injured employees. But whiz-bang capabilities don't create real value unless an organization incorporates these new techniques into its day-to-day operations.

Much like the early clamor surrounding "Big Data," it has become next to impossible to avoid the "Internet of Things" (IoT) as the latest cross-industry catchphrase. However, while all the hype might imply that IoT is new, the term has actually been around since 1999, when Kevin Ashton, cofounder of MIT’s Auto-ID Center coined it in his seminal article, "That 'Internet of Things' Thing."