BARC Big Data Survey: lack of experts and know-how a main obstacle to monetizing big data
DÜSSELDORF, Germany — Insufficient technical and analytical know-how is the most imminent challenge when it comes to the use of big data according to the BARC Big Data Survey 2012/2013, sponsored by Teradata (NYSE: TDC), the world’s leading analytic data solutions company. While most companies intend to invest in big data technologies, a lack of human resources and know-how keeps them from gaining deeper insights. Thirty-eight percent of the respondents associated big data with Teradata and Teradata Aster, placing the company among the most popular vendors. BARC is a leading independent software industry analyst firm based in Germany.
The BARC Big Data survey was conducted in the second half of 2012 with companies in major European software markets in Germany, Austria, Switzerland, France and Great Britain. The questions were answered online by 274 decision makers in IT and other departments from various industries and different sizes of enterprises. The survey shows that most companies are well aware of the potential value of big data as well as the challenges it brings along. As prime reasons driving the demand for big data solutions, 72 percent of participants see the need to gain control over the exponentially growing volumes of data in their organizations, 75 percent mentioned the new and better possibilities for data analysis arising from such technologies. Two-thirds (66 percent) of the respondents already have identified the value of so-called polystructured data from different sources, such as social media, sensors or weblogs. Only seven percent saw no urgent need for action with regard to big data.
According to the survey, European companies not only have identified their big data issues, but are also willing to invest substantially in the new technologies that will allow for in-depth analysis. The participants stated that their companies spend most of their big data budgets on software, followed by hardware, and consulting. Interestingly, the companies who stated they make more efficient use of their data compared to competitors were not among those with the highest expenditure for big data technologies. The companies considered as “laggards” with regard to their big data usage plan to make investments for big data in all areas above average. This may implicate they are already aware of their need for action and want to catch up with their competitors, according to the study.
Companies expect big data technologies not only to store and analyze their data in a profound and reliable way; they also want them to do it as quick as possible. Today, 27 percent of the companies’ data are updated for reporting, monitoring and analysis once in a month, 45 percent are updated on a daily basis. However, only four percent of the data can be analyzed in near-real time (data available within less than five seconds). According to the study, there is a clear trend towards updating in shorter time intervals. In the future, the interrogated companies plan to integrate 17 percent of their data in less than a minute – up from eight percent today.
"The survey shows that beyond the current hype, big data has already become a reality in today's data-driven enterprises," said Andreas Geissler, country manager for Germany, Teradata. "As the concept of big data covers a multitude of data sources, formats and dimensions, it appears quite logical that demand for integrated analytics solutions like Teradata's Unified Data Architecture™ is growing and will continue to do so in the foreseeable future."
Teradata just recently introduced its Unified Data Architecture™ (UDA). This simple architecture provides business analysts with access to the complementary value of Teradata, Teradata Aster and open source Hadoop. For the first time, they are able to store and refine detailed and have the ability to quickly run accurate analytics against all of their data at the same time.
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