CEOs Call For Big Data And IT Continues To Lead Investment Decisions

CEOs Call For Big Data And IT Continues To Lead Investment Decisions

CEOs Call for Big Data and IT Continues to Lead Investment Decisions

IDG Enterprise’s 2014 Big Data Research Details the Investment Areas and Challenges for Big Data Adoption

FRAMINGHAM, MA — (Marketwired – Jan 7, 2014) –  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 2014 IDG Enterprise Big Data research which delves into big data investments, expectations, challenges and vendor solutions as CEOs put more emphasis on big data strategies. The research demonstrates that big data initiatives continue to be a high/critical priority for 60% of enterprise organizations (1,000+ employees) and 46% of small/medium (SMB) organizations ( < 1,000 employees).

For this study, big data is 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 76% in the coming 12 to 18 months from 164.2TB to 289TB. The top sources contributing to this growth are emails, customer databases and word documents.

CEOs Allocating Big Dollars for Big Data

Big Data as an enterprise initiative is beginning to gain momentum. Half of the respondents are in the process of implementing or are likely to implement a big data solution and an additional 12% have already deployed a big data project. These individuals estimate that their organization will spend an average of $8 million on big data initiatives over the next year. In turn, business management, particularly the CEO, is leading the charge on the need for big data strategies. Business leadership is looking to IT management to build the necessary strategies to utilize big data based on company goals. Once implemented, IT executives play a key role in capturing, storing, searching/storing, sharing, analyzing and visualizing data.

There are numerous goals driving big data investment, particularly, improving the quality of decision-making (59%), increasing the speed of decision-making (53%), improving planning and forecasting (47%), developing new products/services and revenue streams (47%), and new customer acquisition/customer retention (44%). When measuring the value of those investments the top success factors considered critical or very important are: identifying areas and processes where big data can have the greatest impact (81%); making sure human capital exists to effectively extract value from big data initiatives (72%); and identifying the best big data tools or resources that will integrate with legacy infrastructure (70%).

IDG-BigDataThe potential benefits from analyzing data are limitless and three quarters of organizations predict that big data will be in mainstream use within the next three years,” said Matthew Yorke, CEO, IDG Enterprise. “It is not surprising that 70% of enterprise organizations are investing in big data, compared to 56% of SMB organizations. Some of the biggest winners in this, within enterprise organizations, will be marketers who partner with IT to better understand their customer data, activities and drivers.”

Current and future investments are focused on two areas for the majority of organizations, storage (55% currently and 49% plan to increase investments in the next 1-3 years) and servers (53% and 47% respectively). However, respondents anticipate a jump in cloud infrastructure investments over the next three years (26% and 44% respectively). Additionally, organizations are investing in data analytics (52%), data mining (42%) and data visualization (36%) to gain business value.

Big Data Adoption and Security Challenges 

Although organizations are investing in big data, budget limitations are considered the biggest challenge, followed by limited availability of skilled employees to manage and analyze big data and security. Enterprise organizations are also facing business process and organizational culture issues in big data adoption.

Skill sets are a key challenge because organizations are looking for individuals with specialized expertise. The majority of organizations currently employ database programmers, business analysts and data analysts in house. In the next 12-18 months, organizations will be hiring data scientists, data analysts, data architects and data visualizers.

Organizations have an increased confidence that their existing security solutions provide adequate security for big data, however that does not mean that precautions are not taken. More than half restrict or limit access to sensitive big data (52%) and encrypt sensitive data (43%). Another precaution is to house sensitive data on premises (62%), versus in the cloud.

Vendor Requirements 

At this time, half of the respondents do not see a clear leader in big data solutions and only 43% believe that the big data vendors they work with are effective in helping them define the value big data provides to their organization. Organizations believe that vendors are able to scale solutions to their organization accordingly, however find solutions inadequate when it comes to integrating them into existing solutions, ease of use and understanding pricing models.

The IT leaders driving big data investments are looking to vendor partners to help prove the business case for investment,” continued Yorke. “Vendors that can demonstrate how their solution will help them monetize their data through improved decision-making capabilities and metrics, and provide best practices will be seen as the more valuable partner.”

Continue the Big Data Conversation

To learn more about open source solutions for managing Big Data challenges and to engage with IT decision-makers, thought leaders and solution providers, attend or sponsor Computerworld’s Open Business Conference, May 5-6, 2014 at the Palace Hotel in San Francisco, California.

To learn more about sponsoring Computerworld’s Open Business Conference contact Adam Dennison at adennison@idgenterprise.com.

About the IDG Enterprise Big Data Research 

IDG Enterprise’s 2014 Big Data research was conducted across more than 1700 IT and security decision-makers from a range of industries. The research goal was to gain a better understanding of organizations’ big data initiatives, investments and strategies. All respondents are involved in at least one of the following steps in the purchase process of IT or security products and services: evaluation, recommending/ selecting vendors, determining requirements, determining the business need, approval/authorization or selling internally. Additionally, the majority of questions were completed by more than 750 respondents have already deployed or plan to deploy big data initiatives.

To receive the complete study results contact Sue Yanovitch at syanovitch@idgenterprise.com.

About IDG Enterprise

IDG Enterprise, an International Data Group (IDG) company, brings together the leading editorial brands (Computerworld, InfoWorld, Network World, CIO, CSO, ITworld, CFOworld and CITEworld) to serve the information needs of our technology and security-focused audiences. As the premier hi-tech B2B media company, we leverage the strengths of our premium owned and operated brands, while simultaneously harnessing their collective reach and audience affinity. We provide market leadership and converged marketing solutions for our customers to engage IT and security decision-makers across our portfolio of award-winning websites, events, magazines, products and services. In addition, the CIO Executive Council — a peer advisory service — delivers on the business, technology, and leadership needs for the world’s elite CIOs and their respective staffs. IDG’s DEMO conferences provide a platform for today’s most innovative and eye-opening technologies to publically launch their solutions.

About CloudTweaks

Established in 2009, CloudTweaks is recognized as one of the leading authorities in connected technology information and services.

We embrace and instill thought leadership insights, relevant and timely news related stories, unbiased benchmark reporting as well as offer green/cleantech learning and consultive services around the world.

Our vision is to create awareness and to help find innovative ways to connect our planet in a positive eco-friendly manner.

In the meantime, you may connect with CloudTweaks by following and sharing our resources.

View All Articles

Sorry, comments are closed for this post.

On Demand With The Gig Economy

On Demand With The Gig Economy

The Gig Economy By now, you’ve probably heard the phrase Gig Economy or seen services offered as “on-demand”. If you’re like 90 million Americans, then you’ve participated in this freelance workforce revolution as either a client or provider. The rise of apps connecting professional services, goods, and lodging directly to consumers via their smartphone is…

5 Cloud-Based Customer Service Trends

5 Cloud-Based Customer Service Trends

Customer Service Trends Customer service has become the new battleground in today’s marketplace. In fact, 97 percent of customers around the world now say that customer service makes a key difference in whether they decide to go with a brand or not, Microsoft reports. Many of the biggest changes in today’s customer service landscape center…

Conquering Disease with Artificial Intelligence and IBM Watson

Conquering Disease with Artificial Intelligence and IBM Watson

Artificial Intelligence and IBM Watson Artificial Intelligence, or AI, is growing increasingly pervasive in today’s modern world. Perhaps the most publicized and recognizable application of AI to date, IBM’s Jeopardy-winning computer, Watson, is now being used to help cure cancer. IBM announced the development of Watson for Genomics on Wednesday at the National Cancer Moonshot…

The Fundamentals of Predictive Analysis

The Fundamentals of Predictive Analysis

Predictive Analysis  Article sponsored by SAS Software and Big Data Forum Analytics is playing an increasingly important role in our lives thanks in large part to internet of things (IoT) developments and a greater appreciation of Big Data. With solutions that range across business productivity, health care, individual and national security, new insights are regularly…

Clouding Around With The Unicorns

Clouding Around With The Unicorns

The Social Unicorn Early investors and technology consumers alike love the poignantly named “Unicorn” companies, or private startups that reach the $1 billion valuation. The most recent unicorn spotting is social media game-changer Snapchat, which was recently valued at $16 billion. According to a recent infographic from Alexa discovered via Adweek, Snapchat also proves to…

5 Ways The Internet of Things Will Drive Cloud Growth

5 Ways The Internet of Things Will Drive Cloud Growth

5 Ways The Internet of Things Will Drive Cloud Growth The Internet of Things is the latest term to describe the interconnectivity of all our devices and home appliances. The goal of the internet of things is to create universal applications that are connected to all of the lights, TVs, door locks, air conditioning, and…

Using Big Data To Analyze Venture Capitalists’ Ability To Recognize Potential

Using Big Data To Analyze Venture Capitalists’ Ability To Recognize Potential

Big Data To Analyze Using Big Data to Analyze Venture Capitalists’ Ability To Recognize Potential For those who are regularly involved with SMEs, venture capital, and company valuations, it is common knowledge that start-ups that exit for more than $1 billion dollars are extremely rare – often termed ‘unicorn’ companies. Despite their rarity, it should…

Cloud Infographic – Big Data Analytics Trends

Cloud Infographic – Big Data Analytics Trends

Big Data Analytics Trends As data information and cloud computing continues to work together, the need for data analytics continues to grow. Many tech firms predict that big data volume will grow steadily 40% per year and in 2020, will grow up to 50 times that. This growth will also bring a number of cost…

The Internet of Things – Redefining The Digital World As We Know It

The Internet of Things – Redefining The Digital World As We Know It

Redefining The Digital World According to Internet World Stats (June 30th, 2015), no fewer than 3.2 billion people across the world now use the internet in one way or another. This means an incredible amount of data sharing through the utilization of API’s, Cloud platforms and inevitably the world of connected Things. The Internet of Things is a…

Cloud Computing – The Game Changer

Cloud Computing – The Game Changer

Global Cloud Index In October, Cisco released its Global Cloud Index (GCI) report for 2014-2019, projecting a near 3-fold growth of global data center traffic, with predictions that this traffic will reach 8.6 zettabytes (cloud data center traffic) and 10.4 zettabytes (total data center traffic) per year in 2019 and 80% of it will come…

Are Women Discriminated Against In The Tech Sector?

Are Women Discriminated Against In The Tech Sector?

Women Discriminated Against In Tech Sector It is no secret that the tech industry is considered sexist since most women are paid less than men; there are considerably fewer women in tech jobs; and generally men get promoted above women. Yet the irony is twofold. Firstly, there is an enormous demand for employees with skills…

The Storytelling Machine: Big Content and Big Data

The Storytelling Machine: Big Content and Big Data

Bridging The Gap Between Big Content and Big Data Advances in cloud computing, along with the big data movement, have transformed the business IT landscape. Leveraging the cloud, companies are now afforded on demand capacity and mobile accessibility to their business-critical systems and information. At the same time, the amount of structured and unstructured data…