target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: IDC Survey Spotlight - Doc Document number: # US51069023
What Factors Are Associated with Better Controlling Data Purchase Expense?
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Abstract
This IDC Survey Spotlight provides analysis of the results from more than 500 global representatives of enterprises that source external data. Conducted in April 2023, the Data as a Service and Data Marketplaces Survey covered a wide range of issues about the purchase and utilization of external data.
Gaining control of data spending is extremely relevant when economic times are tight, and demand is surging to meet the needs of AI models.
"IDC's survey data shows that the majority of enterprises overspend their planned budgets for external data. That is not a sustainable situation given economic pressure and the quest to secure more and more data to fuel advances in AI, " according to Lynne Schneider, research director of IDC's Data as a Service and Data Marketplaces area. "The appetite for this data is robust across the globe, and the time is right to get spending in line with budget expectations."