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Big Data Initiatives High Priority for Enterprises but Majority Will Face Implementation Challenges
IDG Enterprise's 2012 Big Data Research Details the Strategies and Expectations for Big Data Adoption
By: Marketwired .
Nov. 8, 2012 11:59 AM
FRAMINGHAM, MA -- (Marketwire) -- 11/08/12 -- IDG Enterprise -- the media company comprising of Computerworld, InfoWorld, Network World, CIO, DEMO, CSO, CIO Executive Council, ITworld, CFOworld and CITEworld -- releases the results from the 2012 IDG Enterprise Big Data research which delves into big data strategies and challenges as adoption increases. The research highlights big data initiatives as a high/critical priority for 59% of enterprise organizations (1,000+ employees) and 48% of small/medium (SMB) organizations ( < 1,000 employees). As a new technology trend, challenges are anticipated, in fact 60% of IT executives believe big data integration will be very/extremely challenging.
For this study, big data was defined as large volumes of a wide variety of data collected from various sources across the enterprise. Respondents indicated that the amount of data being managed per organization will increase by an average of 53% in the coming 12 to 18 months from 194.4TB to 296.7TB. The top sources contributing to this growth are customer databases, emails and word documents.
"The volume, variety and velocity of data is challenging organizations to quickly put a strategy in place to analyze, predict and monetize the value of data," said Bob Melk, SVP, group publisher & CMO, IDG Enterprise. "This research outlines how organizations are addressing this imperative and what solution areas IT decision-makers are investing in including data analytics, mining, warehousing, predictive analytics and visualization."
Big Data Adoption and Objectives Driving Investment
While respondents agree that big data initiatives are a high/critical priority, the big data trend is still in the early stages of adoption. Currently, 14% have already deployed/implemented big data projects and an additional 44% are in the process of implementing or planning to do so in the future. The speed of adoption aligns with the reliance organizational stakeholders have with the analytics big data can provide, which explains why CEOs (47%) are the number one supporter of big data initiatives. Organizations have multiple expectations driving big data investments, including: improving the quality of decision-making (52%), increasing speed of decision-making (47%), improving planning and forecasting (44%), customer retention (43%) and developing new products/services and revenue streams (42%).
Big Data Adoption Challenges
Organizations are facing numerous challenges with big data initiatives, with the average respondent citing more than five challenges, including: limited budget (45%), legacy issues (36%), security issues (34%), development time (34%) and growing demand on storage capacity/infrastructure (32%). Additionally, IT executives (42%) are concerned about identifying business areas and processes where big data can have the greatest impact, compared to 28% of line of business (LOB) employees. On the other hand LOB employees (47%) are concerned about making sure the human capital exists within the company are capable of supporting big data initiatives, compared to 32% of IT executives, which demonstrates a disconnect.
"There are so many possibilities to exploit data for business advantage, however like the majority of edge technologies security is a key concern," said Melk. "The top focus for managing data security is protecting data from theft and misuse and controlling access to data sets. For now, 58% of organizations are storing sensitive data on-premise and not using cloud technology; however as cloud technologies mature, I anticipate a migration to cloud models."
To mitigate these challenges, organizations are laying the ground work to manage big data initiatives, with more than a third of respondents investing in additional server hardware, developing or buying software applications and network bandwidth. Additionally, appropriate staffing and skill sets are a necessity for big data investments. While most organizations have data base programmers (62%), business analysts (56%), engineers (51%) and data analysts (47%), organizations are planning to hire data architects (30%) and data analysts (29%).
Key findings include:
Continue the Big Data Conversation
To learn more about analyzing, predicting and monetizing data and to engage with IT decision-makers, thought leaders and solution providers, attend or sponsor Computerworld's Data+: Analyze, Predict, Monetize event, September 8-10, 2013 at the Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch, Arizona.
To receive the complete research results or learn more about sponsoring Computerworld's Data+ conference contact Bob Melk at firstname.lastname@example.org.
About the IDG Enterprise Big Data Research
About IDG Enterprise
Company information is available at www.idgenterprise.com.
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