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?