Open source tools like Hadoop and MapReduce are also giving companies new ways to attacks big data.
"Analytic tools and databases can now handle big data. They can also execute big queries and parse tables in record time," Russom said in his report. "Recent generations of vendor tools and platforms have lifted us onto a new plateau of performance that is very compelling for applications involving big data."
Implementing an advanced analytics capability with big data is not without its challenges, the TDWI report noted.
More than 45 percent of respondents said one of the biggest roadblocks to big data analytics was a serious shortage of skilled professionals. Exacerbating the situation is the fact that the skill sets required for new analytics applications are somewhat different from those needed for traditional business intelligence and data warehousing, the report noted.
A lack of business support and the overall costs associated with implementing big data analytics are other major roadblocks, the report noted.
Jaikumar Vijayan covers data security and privacy issues, financial services security and e-voting for Computerworld. Follow Jaikumar on Twitter at @jaivijayan, or subscribe to Jaikumar's RSS feed. His email address is firstname.lastname@example.org.
Read more about BI and analytics in Computerworld's BI and Analytics Topic Center.