Our Insights in Analytics
According to a survey commissioned by Microsoft (see infographic here), 89% of IT decision makers said their companies have a dedicated budget for a big data solution. Currently, almost three quarters of companies (72%) have begun the planning process but have not tested or deployed their solution yet.
At this rate you’ve most likely been hearing the phrase “big data”, it’s easy to blow the excitement off as hype surrounding a highly-marketed buzzword. So yes, the term “big data” has been used in an infinite amount of ways, no doubt to serve quite varying purposes, but it is a reality both large and small organizations cannot ignore.
Top Drivers for Big Data?
Think big data analytics is for the IT realm alone? Think again. The top departmental drivers of big data solutions are customer care (41%), sales (21%), finance (23%) and marketing (23%). From healthcare to e-commerce, industries across the board are finding relevant uses for their stores of data, allowing organizations to run more effectively and begin to take advantage of their data assets.
Those surveyed saw top motivators for developing big data solutions as the need for developing near-real-time predictive analytics and data mining capabilities (62%), expanding data storage infrastructure (58%), and increasing amounts of unstructured data to analyze (53%).
Despite the great demand, only 13% of companies have fully deployed their big data solutions. While it is important to get your organization’s data strategies moving, it’s also important to step back and first realize what your company needs and can benefit from.
As Todd Saunders reminds us in the article How to Align Your New Solution with Business Needs, there are a plethora of questions to be asked before choosing and launching a big data solution:
“The most important thing to know about your proposed solution is what it is intended to do. Does it need to integrate hundreds of sources of data? Will it be receiving real-time feeds that need to be analyzed, formatted and sent in near real time to end users? Does it need to handle petabytes of unstructured data? Will the solution be running numerous reports each week that will be emailed to a set of end users? How many end users will it support — hundreds or just a few?”
When it comes to taking on your data, there has been a fundamental shift from asking “what data needs to be stored?” to “what questions do we need answered?”. Once the business goals have been determined then can your organization move forward in determining the right technology or platform and fully take advantage of that big data budget.
Is your organization posed to take advantage of its data stores but needs somewhere to start? Check out Deep Blue’s solutions and products such as AnalyticsIQ and DBMiner or just give us a holler to see if we could be the right fit for you.