Big data is a lot more than just great. It’s an opportunity. An opportunity to detect new and emerging types. A new study from QuinStreet Enterprise found that big data is a transformative technology trend that can have real impact on business.
The new QuinStreet Enterprise 2014 Big Data Outlook report on the state of big data analytics shows that the sector is clearly a wide-open opportunity for new and established IT vendors alike to be a market leader of big data.
The trend of big data is a high priority for US businesses. About 540 decision-makers that surveyed, nearly 77 percent said of considering implementing big data or big data analytics. For SME with less than 100 employees, big data analytics to be a top priority. In contrast, business with 1,000 or more employees considered big data analytics to be a top or very high priority. Similarly, 57 percent of midsize companies said big data was a top priority.
The report found a number of key benefits that can be achieved from big data. Among them, nearly 74 percent respondents said that big data has the ability to make data more transparent and usable quickly. The benefit can improve speed and reduce complexity. About 50 percent said that big data has the potential to improve customer retention. Nearly as many respondents, 46 percent, named gaining competitive advantage as a key use case. The top three benefits for IT decision makers are business intelligence tools, analytics databases and relational databases.
Organizations indicate that the top benefits that they have already realized are greater scalability, faster access to infrastructure, higher availability, and faster time to market for applications. The report further says that as organizations adopt big data more broadly, they realize increasingly more value, and the challenges of adopting analytics solutions decline.
Project and management costs, scaling legacy infrastructure to accommodate the large volumes of data to be analyzed, collaborating the data silos and updating big data applications are some challenges most IT decision makers said about how a big data solutions might impact other parts of business.
A recent report from report from Technology Business Review Inc. (TBR) highlighted that public cloud providers are using big data to drive their own operations, get new customers and expand product portfolios. These vendors are also expanding their relationships with consultants and system integrators to provide most effectively managed private cloud implementation. Similarly, another study by RightScale found that cloud adoption is picking up steam as enterprises increase both public and private cloud adoption.