Failed projects prompt companies to move to cloud analytics
While there is huge interest in data analytics among the business community many organizations are struggling with failed projects according to a new study which reveals 88 percent of respondents have suffered failures with recent initiatives.
Reasons for the failure of analytics projects include low end-user adoption, projects going over budget, systems not providing the analytics users were expecting, and too many initiatives evolving into 'zombie' projects that were almost completed but not ready for end-users.
Cloud data warehousing company Snowflake Computing commissioned the survey from Dimensional Research, the results show that more than half of data professionals believe their company's existing data and analytics architecture is a barrier to achieving project success.
Other barriers identified included inability to find the right expertise and taking too long to access data sources for their analytics. In order to resolve these issues companies are moving towards the cloud, 53 percent of respondents say they have already adopted cloud analytics and another 26 percent are considering their options. Fewer than one in five companies have no plans to adopt cloud analytics.
Of those polled, 48 percent characterized data analytics as critical to their organization. The goals of their data analytics initiatives over the past two years have focused on, increasing operational efficiencies, informing strategic decision-making, enabling growth, managing costs and responding to competitive pressure.
"How easily and cost-effectively a company can acquire insight from all of its data will determine its success in today's data-driven economy," Snowflake CEO Bob Muglia says. "Only a data warehouse built for the cloud can address complexity, performance and cost barriers, and unlock the full value of data".
More information of the survey findings is available on the Snowflake website.