Most firms are aware of the value of Big Data and the challenges to be experienced upon its implementation, according to a new survey.
BARC Big Data Survey revealed that a lack of technical and analytical knowledge is the most imminent challenge when it comes to the deployment of Big Data.
About 72% of surveyed European software firms deem it necessity to take control over the growing volumes of data in their organisations, while 75% revealed new and better potential for data analysis emerging from such technologies.
About two-thirds of the survey respondents were familiar with the polystructured data from various sources including social media, sensors or weblogs, while about 7% saw no urgent requirement for action with regard to Big Data.
The surveyed firms spent most of their Big Data budgets on software, followed by hardware, and the consulting.
Currently, 27% of the firms’ data are restructured for reporting, monitoring and analysis once a month, while 45% are updated every day.
About 4% of the data can be analysed in near-real time and in future the interrogated firms also plan to be able to analyse 17% of their data within a minute, reporting 8% rise from the current day.
