NEW YORK, Jan. 12, 2016 /PRNewswire/ -- This report reveals the high level findings from Stratecast | Frost & Sullivan's 2015 Big Data & Analytics Market Survey. It offers insight and encouragement to enterprises that have yet to embark on their BDA journey, and to the vendors of BDA solutions who continue to enhance their products and services in order to facilitate successful deployments.
Stratecast | Frost & Sullivan's second annual Big Data and advanced analytics (BDA) market survey contains substantial good news. Large enterprises in the US that have implemented BDA solutions are achieving rapid returns on their investment (ROI). The Web-based survey attracted 401 respondents in September 2015, with about half ( %) reporting production use of one or more BDA solutions; and about half ( %) in the process of implementing, evaluating, or engaging in BDA proof of concept (PoC) projects. While Stratecast will continue mining the survey data in the months ahead, the highlights contained in this initial report bolster Stratecast's primary BDA thesis, and underscore both the value and the challenges that attend BDA deployments.
Stratecast's primary BDA thesis is that, within the next decade, BDA deployments will disrupt and transform both our work and our personal lives—just as the personal computer did in the 1980s, the Internet did in the 1990s, and the mobile, social Web has been doing for the last to years.1 Nearly all the survey respondents ( %) agree—in fact, % expect this will happen in only five years. If this strikes the reader as an aggressively short timeframe, consider that almost half ( %) of survey respondents already have one or more BDA solutions in production use. Within this subset of respondents, % are recovering the cost of their investment within three years, % have increased sales, and % have reduced costs. These strong returns on investment (ROI) should drive additional adoption, and trigger a cascade of related impacts on organizations and individuals.
Concerning these impacts, Stratecast expects that organizations will continue to be challenged by the technical complexity of BDA solutions, and by the system integration and business process changes that accompany BDA implementations. For example, survey respondents indicate that they are challenged primarily by the need to integrate BDA solutions with existing technologies, and by data governance issues (quality, privacy and security). This year's survey data show that enterprises continue to struggle with these and other related issues. Overall, however, the survey results show that respondents are making good progress with their BDA implementations, and achieving positive, quantifiable results.
By their very nature, technological advancements always precede and drive practical applications. In the case of Big Data and advanced analytics (BDA),4 the technology developers—starting with Amazon and Google, and closely followed by Facebook, Netflix and others—were also the pioneers in successful BDA application deployments. They set off a wave of technology and business innovation that is still building, pushing a rising tide of products, services and expectations. Individuals are bobbing happily atop this sea change, as they readily adapt to each new BDAenabled application that comes along. They love using their smartphones and tablets to instantaneously access shopping, banking, video entertainment, and other BDA-enabled services. At the organizational level, however, BDA is just beginning to address and fulfill its potential. Organizations that choose to deploy BDA solutions face numerous challenges; and these are exacerbated by the very real threat that their competitors may outmaneuver them by making faster, better use of BDA solutions. In fact, % of respondents to Stratecast | Frost & Sullivan's 2015 Big Data and Analytics Market Survey believe that every enterprise will need BDA solutions to remain competitive. Almost all respondents ( %) consider BDA technologies to be more important than other technologies to their organizations (Exhibit 1).
This report reveals the high level findings from Stratecast | Frost & Sullivan's 2015 Big Data & Analytics Market Survey. It offers insight and encouragement to enterprises that have yet to embark on their BDA journey, and to the vendors of BDA solutions who continue to enhance their products and services in order to facilitate successful deployments.
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