All In: Betting Big on Big Data

All In: Betting Big on Big Data

Organizations are discovering that the more the CEO focuses on big-data capabilities, the greater the financial windfall.

21% of surveyed senior data and IT decision-makers said that big data analytics is “the single most important way for us to gain competitive advantage,” while an additional 38% rank it as a “top five issue” that gets significant time and attention from leadership.

90% said their organization is investing into big data/analytics at a “medium-to-high” level, and one-third said this investment is “very significant.”

Storage: 37%, Data acquisition: 35%, Talent: 34%, Analytics: 30%

Only 37% said their organization has quantified the business case and path for big data analytics to drive significant changes and new business models.

65% said big data analytics has had a significant impact on revenues (an increase of 1% or more), while 60% said it’s had a significant impact on costs.

Making fact-based business decisions based upon data: 48%, Developing a corporate strategy around data: 43%, Focusing resources to get the most insights from data: 43%

Location-based data: 56% , Text (including email, fax and PDFs): 48% , Social media: 43%, Images: 39%, Web logs: 38%

51% said adapting and refining a data-driven strategy presents a major cultural challenge with respect to big data analytics projects, while 47% cite the leveraging of data to improve customer services.

43% said fostering a culture that rewards use of data presents a major cultural challenge for big data analytics initiatives, and the same percentage cite the valuing of creativity and experimentation with data.