SoftServe, a leading global technology solution provider, today revealed findings from its Big Data Survey indicating that 62% of medium to large organizations expect to implement machine learning for Business Analytics purposes within the next two years.
The research, conducted for SoftServe by Vanson Bourne in April, polled a cross-industry panel of 100 UK and 200 US decision-makers on the risks, challenges and opportunities they see as Big Data technology evolves. The data showed that Big Data Analytics technology, despite being relatively nascent, is already widespread with 86% of organisations having systems in place. Furthermore, medium to large organizations see it as a necessity and are receptive to new technologies that build upon Big Data Analytics.
Read the full survey results.
Respondents were asked what they saw as the biggest area of opportunity for Big Data in comparison to traditional systems, with 62% agreeing that they consider real time analysis as the biggest area of opportunity today.
“It’s not long ago we were visiting enterprises and having to explain why they should look at big data. Today in 2016, Big Data Analytics is already considered a necessity to remain competitive by 63% of organizations,” explains Serge Haziyev, VP Technology Services, SoftServe. “It’s very encouraging that machine learning has featured so prominently in this survey. I find that businesses that take the plunge and implement machine learning techniques realize the benefits early on – it’s a big step forward because it delivers prescriptive insights enabling businesses to not only understand what customers are doing, but why.”
The survey also considered challenges and growing pains. The retail industry stood out as most concerned by data governance. All respondents agreed that it is more of a concern when implementing Big Data Analytics than with traditional systems.