Big Data Means Big Prospects for the Channel

 
 
By Michael Vizard  |  Posted 2013-10-01 Email Print this article Print
 
 
 
 
 
 
 
 

Big data may be the biggest IT trend for the channel in recent memory. Unlike most technology trends, big data affects nearly all aspects of IT. A new survey of 1,000 Fortune 1000 business and IT executives, conducted by big data consulting firm NewVantage Partners, makes this abundantly clear. More than 90 percent of those polled said their organizations have a least one big data project either completed or under way; 68 percent said they have spent more than $1 million on that project, and by 2016 about half said they expect to spend more than $10 million on big data projects. Analytics apps are driving most of that investment as organizations look to have more confidence in their business decisions. Line-of-business executives are driving the big data investments but requiring little in the way of actual proof of return on investment before allocating funds. However, these projects are not unsupervised. Big data governance committees are being formed, and many organizations are starting to appoint chief data officers to centralize command of these projects. The availability of workers with big data skills is a major challenge most organizations face. Channel Insider examines key takeaways from the study.

 
 
 
  • Does Your Organization Have a Big Data Initiative Under Way?

    The vast majority are in some stage of big data deployment. Yes, operational and in production: 32%, Yes, under consideration: 31%, Yes, completed: 28%, Nothing planned: 9%
    1-Does Your Organization Have a Big Data Initiative Under Way?
  • Big Data Budgets

    Within three years, 50% say big data budgets will exceed $10 million. 2013: Greater than $1 million:68%, Greater than $10 million:19%. 2016: Greater than $1 million:88%, Greater than $10 million:50%.
    2-Big Data Budgets
  • Business Functions That Drive Big Data Investments

    Line-of-business executives and risk officers are leading the charge. Sales/marketing: 70%, Risk management/fraud/security: 68%, New-product development: 64%, Research: 64%, IT and operational: 64%
    3-Business Functions That Drive Big Data Investments
  • Big Data Initiatives in Which Investments Are Made

    Analytics applications and data integration top the list. Acceleration of analytical processes: 70%, Development of more sophisticated analytics: 70%, More effective integration of existing data sources: 69%, Creation of analytic sandboxes for data discovery: 65%, Migration of batch processes to big data: 57%, Improved fraud detection: 54%, Deployment of advanced analytics: 53%
    4-Big Data Initiatives in Which Investments Are Made
  • Primary Business Benefits Expected

    It’s also about bigger, better and faster data. Accelerate speed at which insight Is gained: 87%, Integrate a greater variety of data sources: 82%, Analyze larger volumes of data: 81%, Improve overall analytics capabilities: 80%, Analyze new sources of information in real time: 70%, Reduce the cost of the analytics application environment: 70%, Offload production systems: 62%
    5-Primary Business Benefits Expected
  • Was an ROI Analysis Required to Get Big Data Project Funding?

    No, it’s a long-term strategic initiative: 50%, Yes, based on revenue, growth and savings: 20%, Yes, based on cost savings: 10%, No, ROI justification is not required in their organizations: 8%, No, for other reasons: 7%, Yes, ROI based on revenue growth: 5%
    6-Was an ROI Analysis Required to Get Big Data Project Funding?
  • Factors That Drive Big Data Adoption

    Executives are aligning big data projects to business objectives. Executive sponsorship: 83%, Clear definition of business objectives: 82%, Recognition of data as a shared asset: 68%, Consensus on importance of analytics: 65%, Enterprise information strategy: 64%, Organizational alignment: 64%
    7-Factors That Drive Big Data Adoption
  • Steps Taken to Ensure Successful Adoption

    Establishment of governance standards: 61%, Establishment of executive oversight committee: 56%, Establishment of big data lab or center of excellence: 52%, Designation of line-of-business project owner: 49%, Designation of C-level executive as owner: 49%
    8-Steps Taken to Ensure Successful Adoption
  • Does Your Organization Have a Chief Data Officer?

    The study suggests it's a job description that's still evolving. No: 52%, No, but considering: 21%, Yes, within the last three years: 17%, Yes, within the past year: 7%, Yes, prior to 2010: 2%
    9-Does Your Organization Have a Chief Data Officer?
  • What Is the Business Value of Big Data?

    It takes the guesswork out of business. Better fact-based decision making: 80%, Discovery of new correlations and patterns: 74%, Reduced risk: 70%, New-product innovations: 66%, Improved customer experience: 66%, More efficient operations: 64%
    10-What Is the Business Value of Big Data?
  • The Primary Drivers of Big Data Projects

    Integrating and analyzing data from existing sources: 86%, Integrating and analyzing data from new sources: 83%, Integrating and analyzing larger volumes of data: 80%, Ensuring greater accuracy: 65%, Integrating and analyzing streaming data: 55%
    11-The Primary Drivers of Big Data Projects
  • Big Data or Database Management Solutions Under Evaluation

    Hadoop still dominates the conversation. Hadoop: 63%, Teradata/Aster: 43%, Cloudera: 36%, IBM PureEdge/Netezza: 33%, Oracle/Exadata: 29%, Microsoft SQL Server: 29%, EMC Greenplum: 24%
    12-Big Data or Database Management Solutions Under Evaluation
  • Analytics or Visualization Tools Under Evaluation

    Relative newcomers have a strong presence. SAS: 77%, Tableau: 63%, SAP Business Objects: 52%, Microstrategy: 41%, Qlikview: 30%, Revolution Analytics: 28%, Tibco Spotfire: 24%
    13-Analytics or Visualization Tools Under Evaluation
  • Data Domains of Most Interest

    They are usually the areas that are the most opaque. Customer transaction data: 82%, Financial data: 75%, Market data: 68%, Social media data: 65%, Behavioral data: 65%, Fraud detection: 61%, External data sources: 61%
    14-Data Domains of Most Interest
  • Respondents' Big Data Talent Requirements

    Retraining is preferred to recruitment. Need to invest in retraining: 68%, Combine retraining with recruitment: 46%, Actively recruiting data scientists: 30%, Have successfully recruited data scientists: 30%, Face extreme challenges recruiting talent: 21%, Have enough in-house expertise: 19%, No need for data scientists: 4%
    15-Respondents' Big Data Talent Requirements
 
 
 
 
 
Mike Vizard has been covering IT issues in the enterprise for 25 years as an editor and columnist for publications such as InfoWorld, eWeek, Baseline, CRN, ComputerWorld and Digital Review.
 
 
 
 
 
 

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