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Connotate 2012 Big Data Survey

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Connotate, the leading provider of solutions that help organizations automate data collection from the Web, today released results of its second annual “Big Data Attitudes and Perceptions Survey.” The …

Connotate, the leading provider of solutions that help organizations automate data collection from the Web, today released results of its second annual “Big Data Attitudes and Perceptions Survey.” The study, which provides insights from over 800 executives and thought leaders involved in Big Data projects, was commissioned by Connotate, Inc.

One of the key findings of the study is that enterprises are committed to moving forward with Big Data initiatives to unearth new insights, create revenue opportunities, streamline operations and achieve other business objectives – despite the lack of consensus on a clear definition of “Big Data” and the fact that it is too early to tell if most Big Data projects are delivering the return on investment (ROI) to justify the expense.

“Adopting a disruptive technology that fosters new markets and growth always entails an element of risk, and Big Data is no exception,” noted Keith Cooper, CEO of Connotate. “The upside potential of exploiting the wealth of data inside and outside the firewall for strategic advantage is too compelling to ignore, as early success stories from customer use cases show. Connotate is committed to sharing best practices, knowledge and use cases to help customers quickly zero in on tangible benefits as Big Data goes main stream.”

In fact, the level of participation in this year’s survey confirms that 2012 was a crossover year for Big Data.1 The survey garnered nearly three times the number of responses as last year. Respondents included C-level executives, content managers, data analysts and technology professionals , representing a cross-section of industries including retail, energy, manufacturing, health care, financial services, information technology and news/media.

Key findings revealed a commitment to Big Data, whose definition seems to be a moving target. When asked to select a definition of Big Data from a list of choices, more than one in five survey respondents indicated they either don’t know or haven’t decided what “Big Data” really means. Among those that did select a definition of Big Data, the results revealed a shift from last year – more respondents now include Web content as an integral part of the Big Data picture. This implies a blurring, if not a dismantling, of the traditional boundaries around the enterprise information storehouse.

Regarding data collection, there was a decline in the number of organizations (54 percent) identifying themselves as using manual processes as a component of their monitoring and collection process for Web data compared to 2011 (over 60 percent). This may indicate a shift towards adopting technologies for efficient Web data monitoring and collection while using manpower to focus on strategic aspects of projects such as planning and analysis.

Survey results were very clear regarding perceptions of Big Data’s ROI to date. When asked “do you consider your Big Data project a success?

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  • 1. Connotate 2012 Big Data Attitudes and Perceptions SurveyPrepared by Connotate, Inc.October 1, 2012 © Connotate, Inc. 2012
  • 2. Are you involved in managing your organizations Question #1 data aggregation operations and/or budget? Yes, I am a database analyst 46 6.1 %Yes, I am responsible for managing my organizations data aggregation operations 94 12.5 % Yes, I am a publisher/editor 30 4.0 % Yes, I am a knowledge manager 88 11.7 % Yes, I am in another role where I am involved in managing data 131 17.5 % aggregation and/or budget Yes, I am a C-Level Executive responsible for aggregation and 119 15.9 % maintenance of quality content Yes, I am a corporate librarian 11 1.5 % No, I am not involved 231 30.8 % 0% 5% 10 % 15 % 20 % 25 % 30 % 35 % © Connotate, Inc. 2012 2
  • 3. Question #2 How many employees does your organization have? More than 10,000 90 18 % 1,000 - 10,000 86 17.3 % 100 - 1,000 115 23 % 0 - 100 208 41.7 % 0% 10 % 20 % 30 % 40 % 50 % © Connotate, Inc. 2012 3
  • 4. What is your organization’s annual budget on WebQuestion #3 data collection and monitoring? Less than $10,000 21% I don’t know 29% $10,000 - $50,000 17% Over $250,000 18% $50,000 - $100,000 6% $100,000 -$250,000 9% © Connotate, Inc. 2012 4
  • 5. Question #4 What industry are you in? Retail 18 3.6 % Energy 12 2.4 % Web Services 13 2.6 % Manufacturing 32 6.5 % Government 13 2.6 % Education 13 2.6 % Healthcare 40 8.1 % Financial Services 59 11.9 % News/Media 41 8.3 % Technology 46 9.3 %Information Technology 63 12.7 % Other 146 29.4 % 0% 5% 10 % 15 % 20 % 25 % 30 % 35 % © Connotate, Inc. 2012 5
  • 6. Which statement below fits your definition of BigQuestion #5 Data best? All of the external and internal web-based data 226 52.4 % available for business intelligence I’m not really sure what “Big Data” refers to 45 10.4 %The mass amounts of internal information that is stored and managed by an enterprise 75 17.4 %All of the web-based data and content businesses 38 8.8 % use for their own operations None of the above 3.5 % 15 I don’t know 7.5 % 32 0% 10 % 20 % 30 % 40 % 50 % 60 % © Connotate, Inc. 2012 6
  • 7. Based on your definition above, what is the greatest Question #6 challenge Big Data presents to enterprises?Must devote significant manpower to collecting and analyzing data 180 41.8 % Too much information to effectively leverage for business 92 21.3 % Between social media and traditional Internet information outlets, too many data sources to keep track of 45 10.4 % The time devoted to collecting and analyzing data is more than its value to the company 53 12.3 % Ever-changing Web data makes it impossible to track trends 35 8.1 % Search engines do not yield accurate results 26 6.1 % 0% 5% 10 % 15 % 20 % 25 % 30 % 35 % 40 % 45 % © Connotate, Inc. 2012 7
  • 8. Question #7 Which of the following tools and methodologies does your company uses to address Big Data?Search Engines (Google, Yahoo!, Bing) 334 70.3 % Web Data Extraction and Monitoring 262 55.2 % Hadoop 39 8.2 % Data Warehouses/Storage Hardware 242 50.9 % Data Visualization Tools 170 35.8 % Sentiment & Text Analysis Tools 93 19.6 % BI Tools 177 37.3 % CI Tools 10.5 % 50 We have not yet implemented 10.7 % 51 Other 4.4 % 21 0% 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % © Connotate, Inc. 2012 8
  • 9. Question #8 What type of Big Data does your company use to power its initiative? Internal Only 19 % Web Data Only Both Internal and 11 % Web Data 70 % © Connotate, Inc. 2012 9
  • 10. Question #9 What effect does Big Data have on the Cloud? Too early to tell 60.8 % 270Processing challenges 19.6 % 87 Storage challenges 14.2 % 63 Security challenges 29.1 % 129 Additional costs 9.5 % 42 Other 6.8 % 30 0% 10 % 20 % 30 % 40 % 50 % 60 % 70 % © Connotate, Inc. 2012 10
  • 11. Question #10 What are the goals of your Big Data initiative? Competitive Monitoring 226 49.5 % Brand Monitoring 198 43.3 % Political Intelligence 36 7.9 %Revenue-generating Data Services 44.9 % 205 Stock Market Research 53 11.6 % Government Data 17.7 % 81 Pricing and Product Information 38.5 % 176 Credit Data 36 % 36 Other 61 % 61 0% 10 % 20 % 30 % 40 % 50 % 60 % 70 % © Connotate, Inc. 2012 11
  • 12. How does your company collect Web-based data Question #11 and content?Develops its own data collection software 172 40 % Web data aggregation service 50.5 % 217 Manual search and collection 54.2 % 233 Other 5.1 % 22 0 10 20 30 40 50 60 © Connotate, Inc. 2012 12
  • 13. Does your organization currently leverage “BigQuestion #12 Data” for enterprise operations or plan to in the near future? I don’t know 26% Yes 46% No 28% © Connotate, Inc. 2012 13
  • 14. Why did your company decide to move Question #13 forward with a Big Data initiative or project?Opportunity to capitalize on a current market trend to unearth business insights, create revenue opportunities or streamline operations 130 30.4 % Benefits line up with my company’s business needs 136 31.8 % Advised to integrate Big Data by an executive, analyst, consultant, etc. 8.4 % 36 We already had tools, processes and people in place 20.6 % 88 We have not yet decided 35 % 130 Other 29 6.8 % 0% 5% 10 % 15 % 20 % 25 % 30 % 35 % 40 % © Connotate, Inc. 2012 14
  • 15. Question #14 Do you consider your Big Data project a success? No, Big Data did not meet our expectations 2% Not sure; we cannot measure ROI Yes, the Big Data 20%initiative met our stated goals 18% Too early to determine ROI 60% © Connotate, Inc. 2012 15
  • 16. For more information about this survey or tolearn about the Connotate, contact us at: Phone: 732.296.8844 Website: www.connotate.com Email: info@connotate.com © Connotate, Inc. 2012 16