87% of Enterprises Lack the Budget They Need for Data Analytics According to ‘The Challenges of Massive Data Analytics Report 2021’

SQream’s ‘2021 Challenges of Massive Data Analytics Report’ is officially out.  The report shares the feedback of data professionals from around the world to give a first-hand look at some of the biggest data challenges facing enterprises today. Based on a survey done in collaboration with Global Surveyz, the report focused on uncovering the challenges that companies face when it comes to massive data analytics, especially in light of the fact that the Global Big Data Analytics Market is growing at a CAGR of 12.3% and is expected to reach $105 billion by 2027, according to Gartner.

Among the findings:

• 87%  of organizations lack the budget they need to analyze their exponentially growing data stores;
• 59% of organizations expect their data to grow by 50% or more in the coming year;
• 82%  face challenges when it comes to analyzing massive volumes of data.

“With enterprise data growing at levels never seen before, data professionals are challenged with how to rapidly analyze their data, at scale and while it is still relevant,” said Ami Gal, SQream CEO and co-founder. “The 2021 Challenges of Massive Data Analytics Report highlights what data professionals are experiencing both in terms of data growth, budgets and obstacles they are encountering in extracting critical business insights from their data.”

The complete report can be downloaded here.

The full results and an expanded analysis of the report will also be presented in an upcoming webinar, which will take place on Wednesday, February 17^th at 11am EST. You can register for the webinar here.