Techaisle study shows that 43 percent of global mid-market businesses are either investing in or investigating Big Data technology
San Jose, CA, June 3, 2013: Techaisle's global mid-market businesses' Big Data Adoption & Trends study shows that the promise of superior data-driven decision making is motivating 43 percent of global mid-market businesses to either invest in or investigate Big Data technology. Out of these, 18 percent of mid-market businesses are actively investing in big data related projects. The possibilities of analyzing a variety of data sources, producing action-driven business insights is too big to ignore for mid-market businesses.
The current and planned investment represents a sizable opportunity considering that the segment is relatively new and requires a certain level of IT sophistication and a history in linear investment in Information Technology enablers to be successful. North America has both the largest market and the highest level of investment in Big Data overall in SMB and mid-market segments. Mid-Market attitude towards Big Data transitions from "Over-Hype" to "Must-Have" technology with the increase in employee size. However, nearly one-fourth of lower mid-market businesses consider big data to be over-hyped and yet 29 percent think that it will be an important part of their business decision making process in the future.
Business intelligence by itself has provided enough business insights, however, mid-market businesses are now looking for extracting business perspectives to drive superior decisions and ultimately achieve superior results. Extracting business perspectives has become important as they rethink their marketing strategies because mobility, social media, and other transactional services have increased the number avenues for connections with their customers and partners.
In addition to understanding customers, mid-market businesses are also considering big data analytics as an important initiative to help them improve operational efficiencies.
Techaisle's study shows that there are many different tactical objectives for deploying big data projects but the top among them are sentiment monitoring, generating new revenue streams & improving predictive analytics. It must also be said that businesses have figured out that there is a lot of publicly available data which could also be analyzed to their advantage.
The mid-market businesses actively investing in big data technologies are expecting some clear cut benefits from big data analytics such as increased sales, more efficient operations and improved customer service. These objectives differ slightly by different geographic regions. As the growth rates continue to lag in mature economies, the pressure to increase revenue grows resulting in developing robust analysis and extracting insights from all sales and customer data including transactions.
When specifically asked about preferred deployment choice in terms of on-premise vs. cloud, mid-market businesses are unsure as they are still navigating through their technology options. However, Hadoop dominates as the preferred platform but confusion exists.
In terms of analytics skill-set and long-term vision, the potential of linking structured and unstructured data sources to create new business insights is being considered very useful but at the same time mid-market businesses are not really prepared for it. In fact one-third of mid-market businesses agree that linking structured and unstructured data would be very useful for big data analytics but over 70 percent mention that they have either none or very limited capabilities of analyzing unstructured data. This is where they are turning to external help for guidance.
Needless to say, survey reveals that big data deployment is posing tremendous challenges. Technology confusion, lack of skilled resources and potential unclean data are being considered as the biggest roadblocks for big data project implementations. Big data technology and its far-reaching capabilities are being viewed by mid-market businesses as very complex resulting in very steep learning curves.
In spite of challenges, the study shows that there have been some successes when business units, IT & data analysts exhibit extraordinary alignment. Highest success rates for project implementation and generating new insights have been achieved when IT and data analysts work with external consultants from project inceptions.
Techaisle's Global Mid-Market Big Data Adoption and Trends report is available for purchase. Details are given here.
About Techaisle Techaisle is a global SMB ICT Market Research and Industry Analyst organization. Techaisle was founded on the premise that Go-to-Market strategies require insightful research, flexible data, and deeper analysis. Understanding the value of data consistency across markets to inform strategic planning, Techaisle has remained holistic in its approach to Insights and provides globally consistent SMB and Channels analysis across geographies. To achieve its objectives Techaisle conducts surveys with SMBs and channels to understand market trends, opportunities, buying behavior, purchase intent, and IT priorities. Besides covering emerging technologies such as SMB cloud computing, managed services, mobility, social media usage, virtualization, business intelligence, big data, networking its channel research coverage provides in-depth understanding of resellers and channel partners globally. Techaisle's insights are built on a strong data-driven foundation and its analysts are conversant with both primary research and industry knowledge, which is a rare combination. Techaisle offers its clients: Syndicated Research, Custom Consulting, Market Forecast, Competitive Intelligence, Segmentation and Predictive Analytics services. For more information on Techaisle or its global products/services, please visit www.techaisle.com, and our analysts' blogs at www.techaisle.com/blog