The field of data analytics is growing quickly, and for solution providers seeking to solve businesses problems, it’s a market ripe for expansion.

"Solution providers should build a data analytics practice because good, accurate analytics will require development of best practices and domain expertise," said Sumit Nijhawan (pictured), CEO and president of Infogix, a Naperville, Ill.-based data integrity and advanced analytics solutions company. "We're seeing an explosion of new, easily accessible data."

Market researcher Wikibon is predicting that the big data analytics hardware, software and services market will reach $50 billion in 2018, nearly doubling the $27 billion mark in 2014. Meanwhile, MarketsandMarkets forecasts that the advanced analytics market – which analyzes data using sophisticated methods such as statistics, predictive data mining and optimization for forecasting future trends -- will advance at a compound annual growth rate (CAGR) of 33 percent over the next three years, becoming a $29.5 billion market by 2019.

Nijhawan talked with IT Best Of Breed about the trends in the market and why channel partners need to create or expand their data analytics practices.