SMBs Increase Big Data Spending, Hurdles Remain
Small and medium-sized enterprises are expected to spend up to $3.6 billion on big data technology within the next three years, in order to implement business analytics. This is according to the Worldwide Big Data Adoption and Trends study from market research and industry analyst organization Techaisle.
Big data adoption continues to increase among small and midsized businesses. More and more companies are prioritizing big data technology in order to make better decisions by analyzing their information sources. With the assistance of vendors with experience, small companies can effectively analyze big amounts of data, which will help them become more competitive.
The study found that approximately 18% of midsized companies are already investing in big data implementation, while 25% are planning such investments in the future. Enterprises that participated in the study said they believed that big data will help them connect with new customers and business partners, and as a result improve their revenue.
Small and medium businesses also plan to use big data for predictive analytics for mobility, social media and other services. In addition, around 33% of enterprises polled said they believed that analyzing structured and unstructured data might be useful, with some 70% admitting that they have limited methods of analyzing unstructured information.
When it comes to cloud or on-premise big data adoption, many midsized enterprises are not sure which will be more suitable for their needs. Technological confusion, unclean data and lack of resources were pinpointed as the main reasons why big data is still not implemented within the polled companies. This leads businesses to seek big data experts who fully understand the needs of the midsize market. However, as midsized businesses have limited funds, time, and staff, it is important that big data investments are correctly targeted from the very beginning.
Big data deployment and analytics are becoming increasingly important for small companies which want to grow, as big data is no longer reserved only for businesses that operate with a huge amount of data and IT departments that can properly manage it.
In an age of increasing mobility, IT consumerization and the development of productivity-boosting technology, all businesses are facing a data overflow. The technologies that heighten enterprise productivity include virtualization and cloud computing, and when big data technology is properly used, it can enable fast and smart business decisions and help enterprises better serve their customers.
As big data implementation increases among growing businesses, vendors will continuously innovate in the field, offering expert solutions focused on what the midsized enterprises need to accomplish.