Big Data’s big budgets

A recent survey has shown that more than half (55.4%) of Russian companies have a dedicated budget for implementing Big Data analytic solutions. These budgets account from anywhere between 5–10% (and sometimes more) of a company’s annual budget and can amount to as much as RUB 10 million. Moreover, some companies are planning to expand such projects and increase Big Data budgets over the next year or two. Such Big Data investments are also spurring investments in other, related technologies such as machine learning and artificial intelligence, which have already helped companies increase revenue by a total of approximately RUB 30 billion. With the value of such investments paying off in as little a year, expect to see a massive spike in Big Data and Big Data-related investments in coming years.