Reports are pointing to big data as the top IT investment priority for Indian businesses in 2014 as organizations recognize the benefits.
Big data ideas will move beyond planning next year as money is invested in IT products, skills and services to support the commercialization of big data.
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A study from the Economist Intelligence Unit entitled: The hype and the hope: The road to Big Data adoption in Asia-Pacific, which was sponsored by Hitachi Data Systems (HDS), found that 70% of organizations in Asia Pacific believe big data adoption will improve their profitability, productivity, and innovation. Almost half of the firms surveyed in the Asia-Pacific region believe big data can improve revenue by 25 per cent or more.
And India is leading the way in the region. According to Forrester, India and Chian are the two countries in the region with the most mature big data programmes, with 21% of organizations interviewed having implemented a big data project.
“Enterprises will have to find ways to uncover value in their existing data stores and deploy scalable infrastructures to extract meaningful outcomes from big data projects,” said HDS in its Top 5 Trends for 2014 whitepaper.
Meanwhile, research of almost 1000 IT directors in India from TechTarget revealed 32.9% have a broad initiative to implement big data technologies. A total of 42.2% have software initiatives around business intelligence/analytics/data warehousing planned in 2014.
Indian businesses will have spent 6.88bn INR on business intelligence (BI) software in 2013 as a result of a 16% increase in demand for analytics applications, BI platforms, and software for corporate performance management (CPM), according to analyst firm Gartner.
India is proving to be a global pioneer in big data. According to a global study from Gartner released earlier this year, 92% of CIOs have not taken their big data initiatives beyond the planning stage. While 64% of the 720 organizations surveyed globally have big data investment plans, less than 8% have actually deployed big data technologies.
What are your plans in 2014 for big data management and analytics?
|Continue our current big data program||
|Expand our current big data program||
|Start a big data program||
|Evaluate big data||
(source: 2014 IT Priorities India, TechTarget)