Why 87% of data professionals lack the budget to achieve game-changing analytics results

Why 87% of data professionals lack the budget to achieve game-changing analytics results Enterprise CIO is a practical resource for CIOs; business app developers; CTOs; business IT and mobilisation professionals, delivering the most insightful, informative and up to the minute news content from around the web.

Data professionals dealing with big data – or Massive Data, as it should really be called – have experienced the frustration of not being able to analyze their data as they require. Either their complex analytic queries take too long or don’t execute to completion due to an overload of system resources, or they are unable to analyze the amount of data that would bring them the insights they need. Game-changing analytic results are being left untapped. And as most are aware, data is useless if it is not actionable. In today’s data driven world, a business’ success lies in being able to take the data it possesses and use it as a basis to make business decisions that deliver value to the organization’s data stakeholders.

Yet in spite of data analytics being noted as being a high priority according to the recently released, ‘2021 Challenges of Massive Data Analytics Report,’ a surprising 87% of respondents to a survey of management level data professionals said they lack the budget necessary to fully analyze their data.

In addition to the exponentially growing data volumes that already have challenged data professionals, COVID-19 has brought with it new challenges and the need for rapid, yet comprehensive analytics for quick decision making. Deployment of largescale digital infrastructures, growing automations, smart payment capabilities and remote healthcare systems have exasperated the data challenges even further. In addition, telecoms have started to implement 5G and its accompanying smart devices, which is another catalyst for extreme data growth in enterprises.

Most organizations realize they cannot afford to miss out on this extremely valuable business potential. Even so, the report found that 82% of those surveyed said they faced challenges when it comes to carrying out data analytics. In line with this, 59% of those surveyed said their top priority for the new year was to analyze significantly more of their historical data stores.

The roadblocks and workarounds to fully utilizing data

Data empowers decision makers, and its potential is limited primarily by technological constraints. Many organizations have realized the need to bolster legacy data warehouses, which have not kept up with the growth of data from big to massive, and lag in the ability to prepare, ingest and quickly analyze massive data stores.

So how do these obstacles and developments actually translate in the field? What do data professionals consider the greatest challenges to overcome in the push to extract business value from their data stores? How much data do most organizations actually succeed in analyzing?

Download The 2021 ‘Challenges of Massive Data Analytics Report’ to read the feedback of data professionals from around the world and get a first-hand look at some of the biggest challenges facing data professionals today.

And join a free briefing on February 17th at 11 AM EST, which will present the complete results of the report and additional insights into how data professionals can meet their data challenges head on. You can register for the webinar here.

You can download the report here.

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