87% of Enterprises Lack the Budget They Need for Data Analytics According to ‘The Challenges of Massive Data Analytics Report 2021’

Content By Devops .com

TEL AVIV, ISRAEL, February 9, 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 today 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.

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.”

The complete report can be downloaded here.

The full results and an expanded analysis of the report will also be presented in an upcoming webinar, which will take place on Wednesday, February 17th at 11am EST. You can register for the webinar here.

About SQream
SQream provides enterprises with critical business intelligence from massive data stores. Global enterprises use SQream to analyze more data, faster than ever before, while achieving improved performance, reduced footprint, significant cost savings and the ability to scale the amount of data they analyze to hundreds of terabytes and more. SQream is available both on premise and in the cloud. To learn more, visit sqream.com or follow us on twitter @sqreamtech.

Key Findings from ‘The 2021 Challenges of Massive Data Analytics Report’

  • 59% of organizations surveyed anticipate data volume growth of 50% or more in 2021.
  • 60% of organizations have over 500 TB in their data stores, 77% of organizations carry out data analytics on over 50TB.
  • 99% of management teams are on-board and understand the importance of data analytics.
  • But as you look at larger organizations, they admit to being less prepared to handle increased data volume.
  • 87% of organizations lack the budget to meet data analytics needs.
  • Companies face various challenges in their data analytics, #1 on the list are lengthy SQL queries that do not complete.
  • Addressing key data challenges is top priority for 2021, #1 on the list at 59% is significantly increasing amount of data being analyzed.

 

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