Globally Investments by small & medium business (SMB) in Big data is expected to reach $3.6bn in 2016, according to a new report from Techaisle.
The research firm’s latest Worldwide Big Data Adoption & Trends study revealed that about 18% of global mid-market organisations are currently investing in Big Data, with additional 25% plan to do it.
Mid-market businesses cannot ignore analysing diverse data sources and generating action-driven business insights, the report said.
According to the study, about one-fourth of lower mid-market businesses considered big data to be over-hyped, while 29% believe it would play a vital role in their future business decision making process.
About one-third of mid-market businesses considered connecting structured and unstructured data as beneficial while 70% have either none or very limited potential of analysing unstructured data.
Surveyed organisations reported that sentiment monitoring, generating new revenue streams and enhancing predictive analytics remain top objectives for big data solution deployments.
The survey reveals that the big data project implementations are mainly obstructed due to technology confusion, deficient skilled resources and potential unclean data.
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