Big Data Analytics will become mainstream across enterprises in 2014, says new study

Last week, IDG published findings from their Big Data Analytics Enterprise survey which asked 751 respondents about their organisations’ big data initiatives, investments and strategies.

The study found that, on average, enterprises will spend $8M on big data initiatives in 2014.

With data expected to increase by as much as 76% over the next 12-18 months, the study found that 70% of enterprise organisations have either deployed or are planning to deploy big data projects to gain better insights from their deluge of data.

Facing the Big Data Analytics challenge

Organisations are facing a number of challenges, including lack of skills.

In the next year, the survey reveals that organisations will be investing in data scientists (27%), data architects (24%), data analysts (24%) and data visualizers (23%).

Of those surveyed, 74% predicted that big data will be in mainstream use in at least one business unit or department. A further 40% of those polled said they are still in the early stages of Big Data Analytics initiatives.

Critical factors driving Big Data Analytics

The most critical factors for driving investments for big data analytics initiatives include improving the quality of decision-making (59%), increasing the speed of decision-making (53%), improving planning and forecasting (47%) and developing new products, services and revenue streams (47%).

The IDG used an online survey composed of 46 questions to gather its findings.

Findings are summarised here.