Report: 78% of tech professionals link data analysis to revenue growth – VentureBeat

Report: 78% of tech professionals link data analysis to revenue growth – VentureBeat

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The volume, velocity and variety of data are all growing at unprecedented rates, and tech professionals have front-row seats to the rise of hyperscale datasets — those comprising trillions or more records. In 2022, Ocient surveyed 500 IT professionals, director level and higher, to get their thoughts on where data analysis at the hyperscale level is headed. 
Among those surveyed, 78% believe that their organization’s ability to analyze data is closely linked to its bottom line. There are untold opportunities to leverage the information being generated every day, and the companies that take advantage of those opportunities will quickly gain the advantage.
Whether the data is gathered from IoT sensors, consumer devices or system logs, thoughtful, timely analysis can help organizations uncover the types of needle-in-a-haystack insights that lead to the most successful and innovative new products and services.
However, the data warehouses built and installed just a few years ago are starting to feel the strain of too much data. Fully 59% of survey respondents are actively looking to replace their data warehouses, which they see as outdated, limited in capabilities, and inflexible. Their wish lists for the future are: improved performance, agility and connectivity, along with strong security, reduced complexity and manageable costs.
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But finding the right data warehouse is just part of the challenge: the proliferation of data and the need to analyze it requires people with just the right combination of knowledge and experience. Unfortunately, finding those folks is becoming increasingly difficult, and 65% of survey respondents said they were concerned or very concerned about their ability to hire enough talent to meet their needs.
As the Ocient report on hyperscale data analysis and analytics shows, the world is moving beyond big data into an era marked by datasets made up of trillions upon trillions of records. IT professionals know that buried within those records are untold opportunities to increase revenue, decrease spending and propel organizations into the future.
In May 2022, Ocient partnered with Propeller Insights to survey 500 IT professionals who oversee workloads of 150 TB or more. 
Read the full report from Ocient.
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