A third of Indian businesses plan to implement a big data initiative next year as big data management and analytics becomes a strategy for 71.3% of organisation, according to research.
Big data is the current buzz-word in the business intelligence market and the onset of digital interaction is forcing businesses to invest in technology to get more from the data they collect.
TechTarget’s research of over 1,000 IT professionals in Indian businesses revealed that 71.3% are involved with data management and analytics projects at different levels.
For example, 32.9% of IT decision-makers plan to implement a big data initiative in 2014. A total of 13.5% will continue with their current data management and analytics program and 22% will expand it.
Another 17.5% of CIOs plan to start a big data management and analytics project, while 18.5% are evaluating it. Only 17.3% have no big data management and analytics plans and 11.4% were undecided.
Recent research from Forrester, of 430 mid-market companies in India, found 35% plan to invest in big data technology and services in the next two years, but only 8% of the companies planning investment have a projected or proven return on investment (ROI). Reducing costs is the main focus for 30%, while asset utilization is the main focus for 25%.
In August 2013, Gartner revealed that Indian businesses will spend 6.88bn INR on business intelligence (BI) software this year, 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.
James Riley, global head of innovation at India-based IT services company HCL Technologies, said: “With big data, organizations need to learn to walk before they can run and fully understand what is possible with big data and how it can help them achieve their corporate goals.”