Majority of organisations are considering to invest in Bid Data initiatives, with about 60% of firms currently experiencing transformative changes with Big data investment, according to a new report.
UBM Tech latest survey, conducted in collaboration with Nemertes Research, revealed that 39% of respondents already implemented Big Data initiatives, or plans to use them by late 2013, with additional 13% are planning to implment in 2014.
Nemertes Research & Conference co-chair president & founder Johna Till Johnson said Big Data is far from over hyped.
"Our research indicates that the majority of organisations consider Big Data initiatives key to their abilities to innovate and drive value," Johnson said.
About 70% revealed that the implementation of Big Data initiatives offered higher revenues, reduced operating costs, while boosting customer retention.
57% of respondents were able to drive extensive strategic shifts, with 80% taking the current strategic database vendors forward as strategic partners for Big Data, while majority of them using open source solutions.
About 70% of respondents have been using open source tools, together with commercial services or add-ons covered around them from latest Big Data vendors.