Big data has achieved mainstream adoption among large enterprises, according to a new study by management consulting firm NewVantage Partners.

The firm’s 4th annual big data executive survey, entitled “An Update on the Adoption of Big Data in the Fortune 1000,” shows that the percentage of companies reporting that they have a big data initiative in production rose sharply from 48% in 2014 to 63% in 2015. The percentage of organizations reporting an expected investment in big data of greater than $50 million is expected to grow nearly fivefold from 5% to 27%.

“Big data has reached a point of mainstream adoption within Fortune 1000 firms,” Randy Bean, CEO and managing partner of NewVantage Partners, said in a statement. “This survey has over the past four years reflected the evolution of executive perspectives as firms have come to terms with the opportunity represented by big data.”

Among the key findings of the 2016 survey: 63% of companies report that they now have at least one instance of big data in production, nearly double the 31% who reported the same result in 2013. A majority of companies (70%) now view big data as very important or critical to their business success.

Companies are becoming firmly committed to the role of the chief data officer. In 2012, only 12% reported naming a CDO. In the 2016 survey, this number rose to 54%, and 20% of companies now report that the CDO is the executive with primary ownership responsibility for big data initiatives.

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