A new study by AIIM found that many businesses are preparing for the advent of big data and more than half of survey respondents plan to invest in consultancy services, hardware or software in the next three years to make use of the information. The survey also found that nearly three-quarters of respondents have an idea for a "killer application" that can be used to leverage big data to give them a competitive advantage over rival firms.
According to a separate IDC report, businesses are forecast to spend nearly $17 billion on big data services and technologies by 2015.
However, there are some concerns in regard to the explosion of information. More than one-quarter of respondents are struggling to maintain data quality
because they cannot organize content as well as they hoped, AIIM noted.
"Business managers should ask blue-sky 'if only we knew' questions about the business before thinking about how it can be done and at what cost," AIIM market intelligence director Doug Miles said. "If you play those questions against the data you already have, data you could collect or data that you could source elsewhere, it will enable you to make the best use of your big data investment."