Seventy percent agree that analytics are moving to the cloud slower than other business applications; security and low-performing technology are the biggest barriers. A majority of the largest companies in the world: upto 83% agree that the cloud is the best place to run analytics, according to a new survey by Vanson Bourne on behalf of Teradata. In the next five years, by the year 2023, most organizations want to run all of their analytics in the cloud. But, an overwhelming 91% say that analytics should be moving to the public cloud at a faster rate.
According to the survey, some of the biggest barriers to moving analytics to the cloud are security, immature and low-performing available technology, regulatory compliance and lack of trust. Other concerns center on technology integration and talent: 30% are struggling to connect legacy systems with cloud applications, while 29% of respondents cited lack of in-house skill as a barrier.
The survey, “The State of Analytics in the Cloud,” polled senior technology leaders at 700 large, global organizations, with average global annual revenue of $9.73 billion (19% with revenue ranging to $50 billion).“The results are clear: the market is marching toward cloud analytics, but so many of today’s cloud-only analytic engines lack the power or speed to handle enterprise-scale analytic workloads,” said Martyn Etherington, Chief Marketing Officer at Teradata. “In fact, the performance gap for analytics at scale in the cloud gets even larger for the biggest companies. According to the survey, 63% of companies with revenues more than $10 billion view immature and low-performing available technology as a major barrier, compared to 41% of companies with revenues of $250-500 million.”