Massachusetts releases Big Data Report 2014
Massachusetts Big Data Report 2014 (free download) highlights state successes, including almost 500 Big Data companies, $2.5B invested, 5600 students graduating from 14 data science-related programs, and identifies key priorities and growth opportunities.
The 2014 Mass Big Data Report provides an assessment of the relative strengths and weaknesses of the Commonwealth in big data. It highlights prospects for growth in areas such as talent and workforce, ecosystem, and public data access; and identifies opportunities to promote and expand the Mass Big Data sector, while enhancing the Commonwealth’s position as a global leader. This Report is intended to serve as a baseline assessment of the Massachusetts Big Data ecosystem and related economic factors. Principal findings:
- Close to 500 Companies Participate in the Massachusetts Big Data Ecosystem
- Research Centers Across the Commonwealth Differentiate the Mass Big Data Ecosystem
- Nearly $20 Million in Federal Grants Awarded for Big Data Initiatives in Massachusetts
- Investment Funding in Mass Big Data Companies Topped $2.5 Billion
- Massachusetts Colleges and Universities Graduate Close to 5,600 Students Annually from 14 Data Science-related Programs
- Massachusetts’ Big Data Talent Density Among Highest in US
- Strength in Innovation: Data Integration Tools, Data Analysis Software, Data Management
- 5,250 Big Data Patents Granted in Massachusetts
- The overall global big data market is expected to top $48 billion by 2017, up from $11.6 billion in 2012.
- The vast majority of respondents view applications in healthcare, life sciences and financial services as “very promising” or “extremely promising” in terms of their prospects for substantial growth in Massachusetts.
- Over 50 local big data related firms in the 2013 Mass Big Data Survey reported that they are seeking to fill almost 400 big data-related jobs in Massachusetts over the next 12 months.
Six Key Mass Big Data Priorities Identified for Action
- Strengthening Opportunities for Data Science Education and Training
- Increasing Regional Talent Retention and Industry Recruiting Success
- Expanded Access to Public Data
- Increased Awareness
- Mass Big Data Ecosystem Expansion
- Federal Grants
The Commonwealth has taken steps to improve access to data, strengthen computing resources, and extend broadband coverage. The key initiatives include Massachusetts Open Data Initiative, Electronic medical records and claims data (MassHIway, All-Payer Claims Database (APCD)), Massachusetts Green High Performance Computing Center (MGHPCC), and Mass Broadband 123.
Almost 60 percent of survey respondents ranked California as the top location for businesses in the big data sector. California has not launched state-sponsored initiatives which specifically target big data. Massachusetts’ competitive position centers around the unique combination of business, technology and talent strengths, with some of the top global big data firms making their headquarters in the Commonwealth, including EMC, Attiva, and Basho.
The concentration and access to big data talent is higher in Massachusetts than other technology focused regions throughout the United States. Respondents to the Mass Big Data Study rank Massachusetts third after California and New York for building big data businesses. Federal funding for big data initiatives through an announced $200 million commitment will be a factor in regional advancement as well.
The complete report is available for free download at: Massachusetts Big Data Report 2014