A new survey finds that a majority of companies plan to increase their data-analysis budgets this year, though few will add new employees to handle the attendant workload.
It appears that the era of Big Data isn't going away anytime soon.
On the contrary, according to a new report, marketers plan to step up their spending on data-analytics initiatives this year. In a survey of 400 marketing companies by Nebraska-based data analysis firm Infogroup Targeting Solutions, 62 percent said they expect their big-data budgets to increase in 2014. A mere four percent said they expect their budgets to drop over the same period.
The survey results suggest a strong belief in Big Data's potential return on investment. Half of the companies said that they were enthusiastic about Big Data’s role in marketing, while another 31 percent of the companies said that they were cautiously optimistic about it.
More than half of the companies surveyed had already invested in Big Data marketing solutions, with the majority reporting a positive ROI.
Few headcount increases are expected to accompany the rise in spending, however. According to the report, 57 percent of the companies surveyed do not plan on hiring for data-related positions in 2014.