Companies are working toward their big data goals, which will enable them to make personalized suggestions for customers based on insight gleaned from mass amounts of data (think Pandora, Netflix and Amazon). However, they anticipate footing a large bill in order to do so, according to the findings from a recent Gartner study.
This year, businesses are expected to spend $28 billion of their IT budgets on big data, and that total is only expected to rise in 2013, up to $34 billion, the study revealed.
Once businesses put the necessary data quality
controls in place and hire strategists who can accurately interpret the information, the systems might start to seem somewhat smaller, IT Wire explains. Eventually, big data will lose the hype and be considered just "data."
"Because big data's effects are pervasive, big data will evolve to become a standardized requirement in leading information architectural practices, forcing older practices and technology into early obsolescence," explained Mark Beyer, research vice president at Gartner.
Beyer predicts that companies slow to adopt new analytics strategies will fall behind and suffer consequences in the long run as big data becomes a basic approach to information architecture and database organization.