Organizations must do a better job with big data, according to a new international survey from Alteryx. For starters, 77 percent of executives feel that more employees must have access to big data so they can make better decisions. It doesn't help that many CIOs do not serve as the primary driver of big data initiatives. If this trend continues, corporations will find themselves at a severe competitive disadvantage. Instead of focusing on only high volume and velocity, business leadership must find new sources of data that provide business value when analyzed in the context of all other relevant data, says Rick Schultz, senior vice president of marketing at Alteryx. "Big data is extremely valuable to companies looking to solve their immediate decision-making challenges," he says. "Delivering the right data to the right decision-makers in a way they can understand—no matter where that data lives or what form it takes—is crucial." More than 240 global, mostly C-suite level executives took part in the research, which was conducted by the Economist Intelligence Unit.
Why Big data Is Needed
• To better seize market opportunities: 66%
• To improve customer retention: 55%
• To compete more effectively:41%
• To boost financial performance:35%
This article was originally published on 11-09-2012