The Big Data ecosystem is complex with many significant players across different segments of the market, including hardware providers, software providers, professional services providers, end-to-end solution providers and vertical enterprises.
Big Data investments continue to gain momentum throughout the globe. SNS Research estimates that Big Data investments will account for nearly $40 Billion in 2015 alone
Big Data investments are further expected to grow at a CAGR (Compound Annual Growth Rate) of 14% over the next 5 years, eventually accounting for nearly $80 Billion by the end of 2020. The market is ripe for acquisitions of pure-play Big Data startups, as competition heats up between IT incumbents Nearly every large scale IT vendor maintains a Big Data portfolio At present, the market is largely dominated by hardware sales and professional services in terms of revenue.
The recent $75 million acquisition of the online testing company Smarterer by Pluralsight is an indication of the interest in this space.
The TesturSkills online assessment engine falls into the category of professional services inside of the Big Data industry.
Testing, survey/poll taking over the internet has increased dramatically in the last 10 years, driven by a dramatic rise in internet penetration and the relatively low cost of conducting web questionnaires in comparison with other methods. Web testing has a number of advantages over other modes of testing. They are convenient for respondents to take on their own time and at their own pace, tests can also be timed to inject a level of real time pressure. And web testing also allows assessment administrators to use a host of multimedia elements, which can include such methods as having respondents view videos and listen to audio clips.
Using the current rising trend of crowdsourced knowledge TesturSkills takes advantage of curated information and delivers that as a well organized and structured test, poll or data gathering questionnaire. The data captured is an opportunity to represent the objective of the client, which could be to assess skills, competency, candidate capability, customer preferences or consumer trends and attitudes.
Potential Revenue Streams:
“Team-Sourced” Company Knowledge Model.
Companies create organization-specific skill inventories for use in recruiting, learning and development, knowledge management, etc., the TestUrSkills platform enlists the help of the company employees to write and create the assessments. This way, organizations can learn what specific skills their employees have and what specific skills new employees will need.
Subject Matter Expert Model.
Consultants, thought leaders and Industry specific subject matter experts are able to provide exclusive content and questions through the online TestUrSkills Assessment Engine. Not only is this an opportunity to showcase individual knowledge but it is also a way for the expert to validate their experience and monetise their knowledge. This is a unique feature of the TestUrSkills platform and one that provides great opportunities for an individual to create a modest revenue stream.
Data Analysis and Market research model.
The data collected from tests, polls, surveys and other fact-finding frameworks provide a valuable source of information that corporations can use to benefit their customers. Larger fortune 500 companies develop major systems to gather this data and is a great source for lead generation but for smaller organisations the opportunity to take advantage of consumer trends, opinions and buying patterns can be limited and the TestUrSkills platform removes the barrier for this competitive advantage and helps them maximise their service or product offerings to their customers.