A new study by GigaOM and Logicworks found that the reason many business intelligence projects fail is not because of poor data quality
. Instead, roughly half of respondents said these initiatives are futile because of a lack of internal experts who have the ability to analyze massive volumes of information and gather insight that will help the decision-making process.
The study also found that the advent of cloud computing and big data is pushing nearly three-quarters of companies to hire external vendors to assist their big data efforts.
"Organizations are spending more time and money deploying and keeping big data architectures up and running than actually using the data to make better decisions," Logicworks chief executive officer Kenneth Ziegler said. "By leveraging specialized cloud environments, clients can reallocate these resources to monetize their big data investments."
A recent report by IDC found that the market for big data technologies and services will expand at a compound annual growth rate of 40 percent through 2015, eventually generating nearly $17 billion in revenue. By hiring external providers and using advanced services, organizations may be able to acquire better data quality to make more informed decisions.