87% of Enterprises Lack the Budget They Need for Data Analytics According to SQream’s ‘Challenges of Massive Data Analytics Report 2021’
SQream, provider of a data analytics acceleration platform that enables enterprises to gain critical business insights, much faster, from their massive data stores, announced the release of ‘The 2021 Challenges of Massive Data Analytics Report.’ The report collected the feedback of hundreds of data professionals from around the world to get a first-hand look at some of the biggest challenges facing data professionals today.
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The report, based on a survey done in collaboration with Global Surveyz, focused on uncovering the challenges that companies face when it comes to analyzing their data, especially in light of the fact that the Global Big Data Analytics Market is growing at a CAGR of 12.3% and is expected to reach $105 billion by 2027, according to Gartner.
Among the findings:
- 87% of organizations lack the budget they need to analyze their exponentially growing data stores;
- 59% of organizations expect their data to grow by 50% or more in the coming year;
- 82% of organizations face challenges when it comes to analyzing massive volumes of data.
“With enterprise data growing at levels never seen before, data professionals are challenged with how to rapidly analyze their data, at scale and while it is still relevant,” said Ami Gal, SQream CEO and co-founder. “The 2021 Challenges of Massive Data Analytics Report highlights what data leaders are experiencing both in terms of data growth, budgets and obstacles they are encountering in extracting critical business insights from their data. We believe this report provides invaluable insights that will help in meeting these challenges.”
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