Big Data Analyst firm, New Ventures Partner conducted in depth survey of big data executives from 65 companies across multiple industry sectors such as insurance, media, banking, financial services and capital markets.
Here is the summary of the findings.
85% of the respondents have big data initiative either in progress or planned.
Customer and Risk Management are the main focus area for companies using big data solution. In total survey found 17 different business functions using big data technology.
Analyzing diverse set of data is the most important goal for these companies. It is not the volume of the data.
Companies has healthy budget for the big data initiatives. 48% of them have more than $1 M of budget.
There is a severe scarcity of talent in Big Data. 70% of respondents are planning to hire but they are finding it challenging to hire.
Big Data IT Skills:
C-Level and business leaders are mostly the sponsors for Big Data projects.