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Harnessing big data analytics continues to be attractive to many companies looking to mine data for “actionable insights,” information that helps decision makers add value to their business. . The big data industry is teeming with software platforms and products, developers and data professionals, and many avid followers, but for both professional data workers and managers, implementing a data strategy in their business is a challenge. However, there are still concerns and obstacles.
Data analytics platform provider Unsupervised has released the results of a survey called “Big Data Fears and Predictions 2022”.
Unsupervised, we collected 226 responses from experienced big data business leaders and 233 from US data professionals (including data scientists, data engineers, data analysts, data developers, and other relevant positions). responses were collected and pre-screened by research firm Prolific.
Key findings from the survey include how 64% of business leaders expect their big data budgets to increase this year, and how 48% of businesses plan to hire data analysts. , including how business leaders spend an average of 12 hours working directly with big data.
Anxiety and frustration with big data
Source: Unsupervised
In the first part of the survey, we asked business leaders what they fear most about big data, and what challenges they encountered specifically. For 32%, data analysis was the most difficult, followed by processing the data (21%), implementing findings (20%) and both collecting and cleaning for 13%.
The top three challenges cited by business leaders were constantly changing data (44%), data volume (43%) and dealing with data inaccuracies (40%). Of those leaders who cited data analytics as their biggest challenge, 57% said they plan to hire data analysts this year.
Expected big data plans and budgets
The second part of the survey focused on asking business leaders how their companies plan to use big data in 2022. Identifying opportunities for growth was his most common response at 74%, followed by shaping the customer experience (69%) and creating operational efficiencies. (61%).
The survey then asked about planned strategies for solving the biggest big data problems facing companies, with 51% planning to train existing employees to support their data programs. I answered that it is. Other strategies include increasing spending on big data software (40%) and allocating more budget to big data strategies (37%).
Business leaders report allocating an average of 30% of their budgets to big data, and as noted above, 64% expect spending to increase. Some of that spending could go toward hiring, as 48% of leaders surveyed said they would consider hiring data analysts. This is followed by companies looking to hire data scientists (44%) and companies looking for database managers (36%). ).
data expert opinion
Source: Unsupervised
Here are some insights from 223 data professionals. They were surveyed about their own anxieties, frustrations, and expectations. Even though data analysts and data scientists average $70,000 and $100,000 salaries respectively, only 35% said their current job was well paid. Of the top 10 words describing their current data job, 40% of respondents said he used “motivating” and “creative” and 40% said his job was “repetitive”. , 39% also said it was “stressful.” “Fun” remained at 32% of him.
Challenges cited by data professionals include data volume (38%), data inaccuracy (33%), data inaccuracy (33%), and constantly changing data (31%). Interestingly, some of the biggest problems identified by data professionals, not managers, were repetitive tasks (48%), short deadlines (44%), incomplete data (33%), and It was a change in project scope (30%). Also noteworthy is that 1 in 3 of her professionals in her data said she works more than 40 hours a week.
Of data professionals surveyed, 66% predicted an increased reliance on software for data functions, while others predicted an increase in investment in data security (57%) and outsourcing (54%). .
Demand for big data continues
As for the future of big data in the business world, research predicts that its impact will continue to grow. The value of data analytics insights to businesses continues to drive demand for big data professionals and products. One respondent, a 40-year-old data developer, said: [Not doing so] would break the deal. ”
Read the full study at this link.
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