Gartner says nearly half of companies consider investments as less important.
Global investments in big data continue to increase but show signs of contraction, according to a recent survey by Gartner.
The research firm said that the number of companies investing in big data increased by 3% to 48% this year compared to a year earlier.
However, the survey has found companies which are planning to make investments in big data over the next two years declining to 25% in 2016 from 31% in 2015.
The survey, which was conducted among Gartner Research Circle members, revealed the investment plans of 199 members.
Gartner research director Nick Heudecker said: “Investment in big data is up, but the survey is showing signs of slowing growth with fewer companies having a future intent to invest.
“The big issue is not so much big data itself, but rather how it is used. While organizations have understood that big data is not just about a specific technology, they need to avoid thinking about big data as a separate effort.”
The firm said that organisations are shifting from vague notions of data and analytics to specific business problems that data can address.
Heudecker added: “Its success depends on a holistic strategy around business outcomes, skilled personnel, data and infrastructure.”
The survey noted that many of the participants have stuck at the pilot stage in switching to big data, even as nearly three quarters of the companies invested or are planning to invest in data management technologies.
According to the survey, only 15% of the companies have deployed their big data project to production.
Heudecker said: “One explanation for this is that big data projects appear to be receiving less spending priority than competing IT initiatives.”
While only 11% of the respondents stated their big data investments as important, or more important, than other IT initiatives, 46% said that they were less important.
Heudecker added: “This could be due to the fact that many big data projects don’t have a tangible return on investment (ROI) that can be determined upfront.”
Gartner cited the lack of effective business leadership or involvement in data initiatives as another reason for low priority in big data investments.
In September, SNS Research said that companies will spend more than $72bn on big data hardware, software, and professional services by the end of 2020.