Big data and business analytics have been gaining traction with accelerated, global digitization and automation over the past year. We think big data companies International Business Machines (NYSE:IBM) and Alteryx (NYSE:AYX) are both well-positioned to gain from the industry tailwinds. But which of these stocks is a better buy now? Read more to find out.International Business Machines Corporation ( IBM ), in Armonk, New York, provides integrated solutions and services worldwide. The company operates through five segments: Cloud & Cognitive Software; Global Business Services; Global Technology Services; Systems; and Global Financing. By way of comparison, Alteryx, Inc. (AYX) in Irvine, Calif., provides an end-to-end analytics platform for data analysts and scientists worldwide. The company also offers a cloud-based collaboration offering that allows users to share workflows in a centralized repository.
The large-scale analytics and intelligent automation services market has been generating robust growth over the past few years. The global big data market is projected to reach $234.6 billion by 2026, growing at a 10.2% CAGR. Furthermore, the big data market in the United States is expected to hit an estimated $50.1 billion this year. The industry’s robust growth prospects should drive IBM and AYX’s performance in the coming months.
IBM stock has gained 3.1% in price over the past six months, while AYX has shed 17.7% over this period. Also, IBM’s 7% gains year-to-date compare with AYX’s 42.6% slump. And in terms of their past year’s performance, IBM is the clear winner with 11.7% gains versus AYX’s 36.8% slump.