More than 75 per cent of businesses are looking to invest in big data technology over the next two years, a new study has found.
Research from Gartner revealed that involvement in big data is continuing to rise in 2015, with the number of companies investing in big data or considering investment increasing by three per cent compared to 2014.
Organisations have multiple goals for big data initiatives, including boosting the customer service, streamlining processes and achieving more targeted marketing and cutting costs.
Gartner also found that process efficiency and targeted marketing are being looked at by 47 per cent of respondents. With data breaches continuing to make headlines, better security capabilities have been targeted by 23 per cent, marking a rise from 15 per cent.
When queried about the return on investment (ROI) for big data technologies, most companies that have invested or are looking to invest anticipate a positive ROI.
On the other hand, 43 per cent of those planning to invest and 38 per cent that have invested are not aware if their ROI will be positive or negative. This level of uncertainty highlights some of the challenges in determining the value of big data projects.
Nick Heudecker, research director at Gartner, said: "The topics that formerly defined big data, such as massive data volumes, disparate data sources and new technologies are becoming familiar as big data solutions become mainstream.
“For example, among companies that have invested in big data technology, 70 per cent are analysing or planning to analyse location data, and 64 per cent are analysing or planning to analyse free-form text.”
Mr Heudecker went on to say that business leaders are taking a more active role in information and analytics projects as the awareness of data-driven decision making increases.
Posted by Jon Aspinell on 16th September 2015
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