2017 will be known as the year that Big Data went from buzzword on tech blogs and into practice at companies and organizations around the globe. The 2017 Big Data Analytics Market Study shows that companies are ready to start taking action to make their data accessible and interpretable. The incentives to do so are clear; more insights, quicker recognition of business opportunities, lower costs, etc. But up until now, those insights have been limited to a fraction of companies worldwide. We can now say, the time of Big Data on a large scale has arrived.
Big Data Adoption Increases Quickly
The study has been ongoing for the last three years, and over that time, the Big Data landscape has transformed drastically. Perhaps the most telling statistic is the adoption of Big Data analytics by participating respondents. In 2015, just 17% of companies surveyed had adopted any form of Big Data analytics. In just two years, a full 53% of respondents reported having adopted Big Data analytics. 70% of respondents cited data warehouse optimization as their main incentive and most critical motivation for adopting Big Data analytics.
Big Data Adoption Rates Vary Greatly by Industry
One finding of the study that sticks out to any ready is the percentage of Big Data analytics adoption by industry. Take a look at the industry with the highest rate of adoption and the industry with the lowest rate of adoption. Respondents in the telecommunications industry are at an almost 90% adoption rate. Education? Just over 20% adoption. Assumptions can be made that costs, additional IT infrastructure resources, and ideal use cases within Education are lacking, but the divergence in adoption rates remains a large one.
One topic that wasn’t explicitly addressed within the report is that of data quality. After all, Big Data can only add value to organizations if the data is clean, accurate, and accessible. When adopting a Big Data process, data quality needs to be at the forefront of the implementation and execution processes. One thing remains clear - Big Data isn’t going anywhere. Organizations that can adopt meaningful Big Data analytics will have a distinct competitive advantage over other companies within their vertical.
Find out more about this study for yourself!