Companies will spend an average of $7.4 million on data-related initiatives over the next 12 months, with enterprises investing an average of $13.8 million, and small and medium businesses (SMBs) investing an average of $1.6 million, according to a recent IDG Enterprise study.

Over 83% of organizations are prioritizing structured data initiatives as critical or high priority, and 36% are planning to increase their budgets for data-driven initiatives. These statistics foretell an important strategic shift that businesses are undergoing worldwide – they are becoming increasingly data-driven.

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