© Reuters. 1 Data Analytics Stocks to Buy, 1 to Avoid
Rising adoption of predictive analysis methods in almost every sector using advanced techniques reliant on big data has contributed significantly to the growth of the data analytics industry. So, a fundamentally strong stock in this space, Cloudera (NYSE:), is worth betting on now. Conversely, Cardlytix (CDLX) doesn’t look well-positioned to capitalize on the industry tailwinds due to its poor fundamentals. So it is best avoided now.As the COVID-19 pandemic is far from over, the adoption of data analytics accelerated among businesses, organizations, and society to deal with disruptive changes and radical uncertainty. Several sectors, including retail, healthcare, banking and finance, construction, transportation, and media communications and entertainment, have adopted data analytics for critical strategic initiatives and informed decision-making.
According to the International Data Corporation (IDC), worldwide spending on big data and business analytics (BDA) solutions are expected to reach $215.7 billion this year, an increase of 10.1% over 2020. Also, the global data analytics market is expected to reach $24.63 billion by 2030, exhibiting a CAGR of 25% from 2021.
As such, we believe data analytics stock Cloudera, Inc. (CLDR) is well-positioned to cash in on the industry’s strong growth potential. However, fundamentally weak stock in this space, Celldex (NASDAQ:) Therapeutics, Inc. (CLDX) might struggle to stay afloat.
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