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New BCG Study Highlights How Organizations Need To Address Spiraling Data Costs And Complexity

Retrieved on: 
Wednesday, February 8, 2023

BOSTON, Feb. 8, 2023 /PRNewswire/ -- New market research led by independent consulting firm Boston Consulting Group (BCG) and sponsored by Red Hat and Starburst explores organizational challenges related to exponential growth in data volumes and rapid innovation across the data stack. The research indicates that organizations are facing a perfect storm of cost, complexity, and talent when it comes to supporting critical analytics and AI initiatives.

Key Points: 
  • The study titled, " A New Architecture to Manage Data Costs and Complexity, "  highlights three main trends reshaping the data landscape 1) The volume and velocity of data are increasing; 2) Data use cases are becoming both more accessible, creating the growth of "citizen data scientists"; and 3) Technology advancements have shifted the pricing model.
  • The research indicates that given the rapid growth of data and use-case volume, increasing complexity and the skyrocketing costs, more organizations are reaching a breaking point.
  • In fact, BCG estimates that open source can reduce the total costs of the data stack by 15%-40% for some organizations.
  • It allows companies to bring analytics to the data, making it accessible for decision-making without data movement complexities and costs.

New BCG Study Highlights How Organizations Need To Address Spiraling Data Costs And Complexity

Retrieved on: 
Wednesday, February 8, 2023

BOSTON, Feb. 8, 2023 /PRNewswire/ -- New market research led by independent consulting firm Boston Consulting Group (BCG) and sponsored by Red Hat and Starburst explores organizational challenges related to exponential growth in data volumes and rapid innovation across the data stack. The research indicates that organizations are facing a perfect storm of cost, complexity, and talent when it comes to supporting critical analytics and AI initiatives.

Key Points: 
  • The study titled, " A New Architecture to Manage Data Costs and Complexity, "  highlights three main trends reshaping the data landscape 1) The volume and velocity of data are increasing; 2) Data use cases are becoming both more accessible, creating the growth of "citizen data scientists"; and 3) Technology advancements have shifted the pricing model.
  • The research indicates that given the rapid growth of data and use-case volume, increasing complexity and the skyrocketing costs, more organizations are reaching a breaking point.
  • In fact, BCG estimates that open source can reduce the total costs of the data stack by 15%-40% for some organizations.
  • It allows companies to bring analytics to the data, making it accessible for decision-making without data movement complexities and costs.