One of the highlights of the year for ESG is the publication of our annual IT Spending Intentions Survey. For enthusiasts, I've pulled out a few highlights specifically around big data and analytics.Spoiler alert: this segment of the market is growing rapidly, second only to security. Yet while security can defend against risks to a business, big data has the promise of new growth.
Take a look at my new ESG Video Capsule for some more insights.
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Nik Rouda: ESG recently released our annual report, the 2016 IT Spending Intentions Survey. And there are a few highlights around big data and analytics that I wanted to share with you.
First piece of good news is 63% of respondents say they expect to their spending to increase for BI, analytics, and big data solutions. That means this market is continuing to grow rapidly. And by the way, this is on top of other recent gains in past years. This area of big data and analytics is the second highest priority for customers, and that's just after security. Think about that. Security failure could kill a business. Big data and analytics could actually make it more successful.
This area was also the second most important mega-trend for organizations. It's going to represent one of the broadest shifts in IT, and it's going to have to be addressed, not ignored. In fact, 32% thought big data and analytics is going to drive the most technology spending for their organization in 2016. This means there are opportunities for vendors to capture that budget, both by established leaders and by startups; whoever can provide the best solution.
Now, a complicating factor here is that 36% of respondents said they are facing a problematic skills shortage in this area. This means that technologies that are easier to adopt, easier to use, and easier to support, will be those where the customer finds it easier to extract value.
Now, thinking about where they could develop their skills, no surprise, this was the most second most beneficial area for careers and for businesses looking to get smarter. This means there is also a tremendous opportunity to build awareness, educate, and train on new technologies.
If you're interested in hearing more about this report, or other research we've been working on, and how it impacts your business, please reach out. I'd be happy to have a conversation.