10 Big Statistics and Facts on Big Data Analytics
Eat your heart out cloud computing. Big data has emerged as the biggest buzzword to come around in quite some time. This global craze has heightened the awareness of data analysis, management, and visualization for organizations seeking a way to maximize the potential of the informational nuggets at their fingertips. From making better business decisions to strengthening bottom lines, it’s producing real results from one industry to the next.
If your company is considering going big with its data initiative or already knee deep, following the market trends and statistics is one of the smartest things you can do. Here are some eye-opening numbers on big data analytics:
- Big Buckets of Data. Tech giant IBM estimates that we create 2.5 quintillion bytes of data on a daily basis – half of roughly every word ever spoken in the the history of mankind.
- Big Spending. Gartner projected that $232 billion will be spent on big data through 2016.
- Big Job Openings. According to Gartner, big data will help create 4.4 million jobs worldwide by 2015 – 1.9 million being IT positions in the United States.
- Big Shortage of Expertise. McKinsey estimates that 1.5 million additional data-driven experts are needed in the United States alone to fully capitalize on big data. The same report suggested that the digital universe might be short as many as 190,000 qualified data specialists by 2018.
- Big Business Drivers. A survey conducted by EMA and 9sight Consulting found that the need to increase operational and analytical efficiency, boost competitive advantage, and a more advanced form of analytics were the three main reasons businesses are adopting big data solutions.
- Big Importance. According to a survey by GigaSpace, 80 percent of companies feel big data is important to their business operations, while another consider it mission-critcal.
- Big Deployments. The aforementioned survey by EMA and 9sight also took a look at big data deployments, showing that they increased from 27 percent in 2012 to 34.3 percent the following year.
- Big Confusion. TekSystems published a report showing that more than half of IT leaders and professionals are unsure about who owns the data flowing through their infrastructure.
- Big Usability Issues. According to a survey by InformationWeek’s Business arm, 45 percent of respondents reported that ease of use (or lack thereof) is one the biggest roadblocks in succeeding with big data analytics and business intelligence tools.
- Big Challenges. Rainstor conducted a survey showing that over 37.5 percent of big companies cited analyzing large volumes of data as their biggest challenge.
These numbers highlight how big data is both an opportunity and potential headache of epic proportions. Before taking the plunge, be sure to gather all the pertinent details on the fundamentals, pros, cons, and more so you can give your organization the best possible chance to succeed.