August 25, 2014: A study released in July 2014 by Tata Consultancy Services found that 70 percent of enterprises consider digital initiatives to be critical to business, with marketing technology and social media budgeting receiving significant priority. The study surveyed 820 executives in 13 global industries across 10 countries.
The results showed that executives in each region put more than 20 percent of their budget into big data and analytics software. Executives in Europe, Asia-Pacific and Latin America put approximately 19 percent of their budget toward social media. North America exceeded this average with 21.4 percent of its budget going toward social initiatives.