Research cites anticipated 'information explosion' with focus on tried and tested technology but concerns over current systems and IT infrastructures.
16 January 2003 -- Bath, UK -- A recent Study has found that many of the UK's businesses will have to contend with a massive increase in the amount of information they will need to process. But the vast majority of them will not turn to new innovative technology in order to deal with this increased information. As many as 96 per cent of UK companies say they would implement only proven, stable and tested technologies.
The Business Information Study, conducted by CopperEye, was among 40 information technology (IT) directors from the UK's top 100 companies across a wide variety of sectors, including retail and telecoms. It found that the vast majority of the UK's businesses (87 per cent) believe IT will play an increasing role in meeting their business objectives during the next three years, but that spiraling volumes of information will need to be tackled by companies.
Well over a third of the companies surveyed felt that the amount of data that will need to be processed in the next three years will increase by 100-fold or more. A further 37 per cent expect a 10-fold increase.
The Study says that in an uncertain economic climate, one issue that comes to the fore is the type of technology in which companies will invest in order to address the information issue. It claims that when it is difficult to accurately predict the future, buyers of technology solutions tend towards products and services that are tried and tested, rather than being a guinea pig for innovative technology.
Only 4 per cent of companies in the Study indicated that they would look for innovative technology to address their business issues. As many as 55 per cent said they would implement new technology, but only once it had proved its worth and stability, while the remaining 41 per cent said they would consider market-leading, tried and tested solutions.
It is highly unlikely that companies will risk their future business on the back of new technologies, however good they may profess to be, says the Study.
Research Question: When implementing technology to meet the needs of the business which of the following categories do you typically choose?
Innovative technology 4%
New technology (proven and stable) 55%
Market-leading tried and tested solutions 41%
Disturbingly, the Study's results show that the ability of UK business to deal with the predicted information explosion is questionable. Over half of the companies either didn't know what the affect of increased volumes of information would be, or believed that their ability to process this information adequately would suffer.
More than a quarter of respondents felt that their IT infrastructure was not ready to meet the massive new information demands that would be placed on them, and as many as a third expressed doubts over the ability of their systems to cope.
What also bodes poorly for the take up of new innovative technology is that the Study found that the IT spend of UK businesses will remain the same or decrease over the next three years.
Research Question: Technology spend as a percentage of revenue over the next three years
Remain the same 40%
With IT spend under scrutiny; the Study says that IT directors and managers will be expecting greater return on investment in IT while also focusing on information that is critical to the business. The bulk of companies who responded felt that the information they manage is not critical to the operation of the business.
Research Question: What percentage of information currently stored within company databases is mission critical information?
Information stored Responses
Given that companies believe they will have difficulties in managing volumes of information in the future, it will be essential that they focus on mission critical data if they are to improve business efficiency, the Study cautions.
Options for solving the anticipated information increase range from more hardware or software to increased storage, with a sizable proportion of respondents also citing outsourcing as a possible way forward, to gain economies of scale and expertise, as well as flexibility and scalability. Almost 60 per cent of the companies said the bulk of their spend would be on IT services. This puts the emphasis on outsourcing companies to ensure that they are using the right software tools to improve the performance of their systems to meet customer demand.
Steven Rose, Chief Executive Office, CopperEye, says: "Looking at the results, we believe that companies are being put under more pressure to deliver effective information that is critical to operations. Sifting out quality data from masses available, is a major business critical task facing organisations today and one that will intensify in the future."
"It indicates that decisions regarding technology solutions will need to be a lot smarter than in the past and that more economical solutions will be purchased to deliver increased efficiencies," he said.
For further information contact:
Tel: 01225 745493
Tel: 01225 745492
About the Survey
A full copy of CopperEye's Business Information Study is available on request.
The research provides an insight into the information issues facing businesses today - issues that are becoming of increasing concern to the IT Directors of the UK's largest organisations. It provides valuable, quantifiable research revealing how executives responsible for IT regard the ability of their companies, infrastructures and systems to cope with the current and future demands placed on them, in terms of information processing in support of business objectives.
Greater availability of information, with faster access to operational data, are clearly vital, but as information "explodes" and enterprise-wide databases grow in size exponentially, the research shows that this is resulting in business issues for organisations. CopperEye commissioned Optima Consulting to carry out the Research on their behalf, independent of CopperEye. One of Optima's remits is to perform independent research on behalf of organisations in the IT industry. The Intellectual Property Rights of the Business Information Study belong to CopperEye.
CopperEye Ltd is an international developer and supplier of revolutionary products that significantly accelerate operations within new and existing relational database systems. It offers an innovative technical solution that provides a substantial impact on business competitiveness and operational performance. CopperEye has invented and patented a totally new type of "data indexing" solution. It represents a "quantum leap" in data indexing technology. Called Adaptive Addressing, the company currently has two core products:
Intelligent Indexing - a solution that can improve existing Oracle relational database performance by up to ten times*. This is achieved by directly replacing existing conventional indexes within an application.
Custom Indexing - a full set of APIs that enable application developers to easily create new custom solutions. This technology out-performs existing conventional indexes and is easily integrated, resulting in increases in performance of up to one hundred (100) times*
in test environments within CopperEye.
By dramatically improving relational database performance, the solutions provide increased availability of information, unprecedented speed and business efficiency, as well as significant cost benefits.
CopperEye is headquartered in Bath, UK. For further information visit: http://www.coppereye.com
Copyright (c) 2002 CopperEye Ltd. Adaptive Addressing and Intelligent Indexing are trademarks and/or registered trademarks of CopperEye Ltd. All other brand and product names are trademarks of their respective owners.
This press release was distributed by ResponseSource Press Release Wire on behalf of CopperEye in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.