All In: Betting Big on Big Data

By Dennis McCafferty  |  Posted 09-07-2015 Email

Big data analytics has emerged as a top five topic of interest within many organizations, according to a recent survey from Teradata. In fact, a notable share believes that the effective pursuit of data and analytics is the single most essential factor in gaining superior competitive advantage. The resulting report, titled “Betting on Big Data,” reveals that the majority of companies are making substantial investments into data analytics. Storage, data acquisition and talent staffing top the spending priority list for the heaviest of spenders. However, relatively few businesses have staked out a road map to success with regard to how data analytics will drive major changes and create new business models. It doesn’t help that silos make it difficult for enterprises to share data internally while gaining a clear view of business opportunities. Yet, when top leaders are aligned with big data and analytics strategies, these barriers are often overcome. “Organizations are discovering that the more the CEO focuses on data capabilities, the greater the financial windfall,” according to the report. “Similarly, the stronger the relationship between a CEO and his/her data analytics team, the more likely an organization is to invest in data-centric technologies …  In the meantime, organizations are discovering innovative strategies, from online forums to cross-functional boards, to recruit hard-to-find data science talent.” More than 315 senior data and IT decision-makers took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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