BEDFORD, Mass., May 13, 2014 /PRNewswire/ -- VoltDB today announced the findings of an industry survey which reveals that most organizations cannot utilize the vast majority of the Big Data they collect. The study exposes a major Big Data divide: the ability to successfully capture and store huge amounts of data is not translating to improved bottom-line business benefits.
In Q1, 2014, database managers, analysts, administrators and other IT professionals were polled about the databases they currently use, the results of their Big Data projects, and opinions about Big Data technology advancements. Three hundred sixty-eight total respondents in a variety of industries participated. Key findings include:
Performance Deficiencies Lead to Short-term Fixes and Project Failure
Although most organizations are running multiple databases (72%), they are still being forced to apply enhancements to improve system performance, and some have abandoned Big Data projects altogether.
- 84 percent of respondents admit that they have had to enhance their primary database due to performance issues.
- 51 percent report that they have had to implement database caches, 35 percent have had to add batch extract, transform, load (ETL), and 31 percent have had to implement a stream processing engine because their database isn't fast enough.
- 17 percent of respondents indicate they have had to completely abandon Big Data projects because: their database could not support application requirements (50%); application response times were too slow (47%); and the cost of database licensing fees was too high (37%).
Untapped Data Has Little or No Value
The majority of respondents reveal that their organizations can't utilize most of their Big Data, despite the fact that doing so would drive real bottom line business benefits.
- 72 percent of respondents cannot access and/or utilize the majority of the data coming into their organizations.
- Respondents acknowledge that if they were able to better leverage Big Data their organizations could: deliver a more personalized customer experience (49%); increase revenue growth (48%); and create competitive advantages (47%).
In-Memory Databases Will Trump Traditional RDBMS
Respondents recognize the advantages of in-memory database architecture and feel it's inevitable that it will become mainstream soon.
- The vast majority of respondents (89%) believe in-memory architecture delivers better performance characteristics.
- Most (62%) say in-memory will become mainstream within the next five years.
- Respondents indicate that the main value of in-memory is that it: allows for faster business insight (29%); analyzes dynamic or real-time data (28%); and supports real-time decision-making (20%).
"The survey findings point to the fact that many organizations are far from realizing the true business value of Big Data," said VoltDB CEO Bruce Reading. "Organizations must have the ability to not only ingest massive amounts of data, but also immediately analyze and act on that data in a meaningful way to realize the big payoff – improving their bottom lines. Big Data insights are crucial in delivering a more personalized customer experience, getting to market faster, and creating the competitive advantages that lead to revenue growth."
VoltDB provides the world's fastest operational database, delivering high-speed data processing and real-time, in-memory analytics in a single database system. VoltDB is a relational database that gives organizations an unprecedented ability to build ultra-fast applications that can extract insights from massive volumes of dynamic data and enable real-time decision-making. Organizations in markets including mobile, financial services, energy, advertising and gaming use VoltDB to maximize the business value of data at every interaction. VoltDB is privately held with offices in Bedford, Mass. and Santa Clara, Calif.
The world's fastest applications run on VoltDB.
Davies Murphy Group, Inc.