SAN RAMON, CALIF., March 11, 2014 – Ventana Research today released the findings of its latest benchmark research, on the topic of big data analytics. The research explores how business units and IT organizations are using emerging information technology to address a new generation of competitive needs. The analysis in this new research, the latest from the leading business and technology market research firm, has yielded important best practice recommendations for gaining value from big data by applying analytics – an undertaking that half of organization view as very important as the growth in volumes of data in organizations accelerates.
The application of analytics generates insights that enable business to take action faster and improve the effectiveness of business processes. This new research quantifies both businesses’ growing reliance on big data and their need to draw information from it to more effectively manage their efforts. The growing number of big data technologies that extend beyond the relational database management system – including Hadoop, data appliances and in-memory computing technologies –has created challenges to identify the most effective tools for analytics. Because of these rapid changes in big data technologies, more than a third of organizations (35%) today are using custom-built systems that are costly and require intensive maintenance efforts. This reliance on outdated and inefficient technology can deny organizations improvements provided by the new technologies such as better communications and knowledge sharing, which a quarter of organizations identified as a top benefit of deployment.
“The opportunity to exploit big data is available to every organization,” said Tony Cosentino, VP and research director at Ventana Research, “but unfortunately making the wrong choices about processes and technology impacts many organizations negatively. This is critical to address, as wasted time is not just money lost but the best possible outcomes not being achieved. This research finds that the skills and resources are lacking to utilize big data analytics effectively. Companies need software that can manage the process flow of data to analytics to insight in the most efficient manner and provide the value needed and expected by management.”
The insights this new research provides will enable Ventana Research to help provide more accurate guidance on methods and best practices in big data analytics and how organizations can gain the most benefit from their big data investments. This research-based expertise, not found in traditional analyst and consulting firms, will enable business units and IT organizations to improve their ability to work together using technology to provide the right information efficiently and effectively. The Performance Index analysis in the research also can help organizations to more accurately pinpoint areas of needed competitive improvement quickly.
About Ventana Research Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.