▶ Big Dollars Start to Chase Big Data Sets: Nearly three-quarters (68%) of executives from Fortune 1000 companies expect their organizations will invest more than $1 million in big data this year, according to a new study conducted NewVantage Partners. “Big Data Executive Survey 13” said the percentage of companies that invest more than $1 million in big data is expected to grow to 20% by 2016.
The term “big data” has been tossed around the PR and marketing precincts for the last few years, of course. But now it seems like the reality is catching up with the rhetoric, in terms of companies investing real coin into the space.
The study revealed several key takeaways about what the future holds in store for big data.
∙ Nearly a quarter of the respondents (19%) said they expect their company to invest north of $10 million this year, and 50% expect such investments by 2016.
∙ Massive scale investments of greater than $50 million are expected to double in three years, to 14% in 2016 from 6% in 2013.
∙ Respondents placed the same importance on variety, volume and velocity when collecting and analyzing data.
∙ Almost half of the companies surveyed (48%) have or plan to establish processes and organizational structures dedicated to data.
Source: New Vantage Partners
▶ Being More Cognizant Of Consumers Who Care: Consumers are increasingly becoming savvier about the products they buy. Not only that, but consumers are increasingly more concerned about how a product can impact personal health, society or the environment.
A recent study of 2,000 U.S. adults by Clarity Coverdale Fury and Mintel said that the rise of conscious consumers is a rapidly accelerating trend (and one in which brands need to more cognizant).
The study found that:
∙ Nearly a third of the respondents (28%) regularly buy organic for home consumption.
∙ Nearly a quarter of the respondents (21%) said they regularly shop at organic supermarkets like Whole Foods.
∙ Nearly a third of the respondents (30%) said they participate in charity events such as walks and marathons.
∙ Lack of willpower was identified as the leading cause for abandoning healthy lifestyle practices. PRN
Source: Clarity Coverdale Fury and Mintel
This article appeared in the September 30 issue of PR News. Subscribe to PR News today to receive weekly comprehensive coverage of the most fundamental PR topics from visual storytelling to crisis management to media training.