Big Data Means Big Prospects for the Channel
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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% -
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%. -
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% -
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% -
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% -
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% -
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% -
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% -
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% -
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% -
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% -
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% -
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% -
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% -
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%
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Why Metrics Matter to the Channel 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.