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April 11, 2013 /PRNewswire/ -- Insufficient technical and analytical know-how is the most imminent challenge when it comes to the use of big data according to the
BARC Big Data Survey 2012/2013, sponsored by
Teradata (NYSE: TDC), the world's leading
analytic data solutions company. While most companies intend to invest in big data technologies, a lack of human resources and know-how keeps them from gaining deeper insights. Thirty-eight percent of the respondents associated big data with Teradata and Teradata Aster, placing the company among the most popular vendors. BARC is a leading independent software industry analyst firm based in
The BARC Big Data survey was conducted in the second half of 2012 with companies in major European software markets in
Great Britain. The questions were answered online by 274 decision makers in IT and other departments from various industries and different sizes of enterprises. The survey shows that most companies are well aware of the potential value of big data as well as the challenges it brings along. As prime reasons driving the demand for big data solutions, 72 percent of participants see the need to gain control over the exponentially growing volumes of data in their organizations, 75 percent mentioned the new and better possibilities for data analysis arising from such technologies. Two-thirds (66 percent) of the respondents already have identified the value of so-called polystructured data from different sources, such as social media, sensors or weblogs. Only seven percent saw no urgent need for action with regard to big data.
According to the survey, European companies not only have identified their big data issues, but are also willing to invest substantially in the new technologies that will allow for in-depth analysis. The participants stated that their companies spend most of their big data budgets on software, followed by hardware, and consulting. Interestingly, the companies who stated they make more efficient use of their data compared to competitors were not among those with the highest expenditure for big data technologies. The companies considered as "laggards" with regard to their big data usage plan to make investments for big data in all areas above average. This may implicate they are already aware of their need for action and want to catch up with their competitors, according to the study.