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November 4, 2011

Big future for Big Data analytics, says Ovum

Report says many businesses are planning on investment in Big Data BI

By Steve Evans

A new study by research house Ovum has revealed that almost half of organisations in North America, Europe and Asia-Pacific plan to invest in Big Data analytics in the near future.

The Ovum report, called Big Data interest bubbling under the surface, claims that 44% of organisations will budget for projects in the next two to five years. As well as this, one-third said they will push ahead with implementations next year to help them analyse Big Data, the vast quantity of unstructured information being created from a variety of sources.

Analysing this data can provide organisations with huge amounts of information, such as customer trends.

Interestingly the Ovum survey revealed that it is not just big enterprises that are making plans to deal with Big Data; over one-third (38%) of respondents came from business with revenue below $50m.

"There is little question that data is exploding, with most of the enterprises we spoke to predicting that in the next year alone the amount of data in their warehouses will grow by at least 10 to 20%," said Ovum analyst Tony Baer, author of the report.

The fact that the majority of enterprises have faith in the power of Big Data analytics to drive business benefits from this data is promising. The number of use cases of early adopters is increasing, with our survey showing that uptake will soon be widespread," he added.

"Naturally, enterprises wanting to take the first steps in Big Data analytics shouldn’t analyse data just because it is there. They should look to existing business issues such as maximising customer retention or improving operational efficiency, and determine if expanding and deepening the scope of their analytics will deliver tangible business value," Baer concluded.

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