How to Overcome Big Data Barriers
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Deciding Factor
65% of global C-suite level execs and senior decision-makers surveyed said that their organizations will risk becoming irrelevant or uncompetitive if they do not embrace big data. -
Budget Allocation
56% anticipate higher investment in big data over the next three years, and 15% said this increase will be significant. -
Developmental Delay, Part I
45% said the current development cycle for new analytics insights takes too long, and doesn't match their business requirements. -
Developmental Delay, Part II
52% said the IT development process causes constraints with respect to arriving at insights more quickly. -
Ill-Equipped
47% said their IT systems are not optimized to enable business decision-makers in all departments to effectively do their jobs. -
Border Crossing
64% believe that big data is changing traditional business boundaries and enabling non-traditional providers to move into their industry. -
Nimble Newcomers
53% said their organizations face increased competition from data enabled start-ups. -
Strategic Overhaul
Three-quarters said their company is either restructuring/reorganizing to exploit big data opportunities, or is planning to do so. -
Repositioning Plan
63% said their organization is either introducing new C-level roles to exploit big data opportunities, or is planning to do so. -
Biggest Barriers to Big Data Implementation
Shortage of skilled people: 37%, Time needed to analyze: 32%, High cost of data storage and manipulation: 33%
A clear majority of senior leaders feel that big data capabilities will determine whether their organizations remain relevant and competitive. But most say IT development processes are creating barriers with respect to arriving at crucial insights when needed, according to a recent survey from Capgemini and EMC. The accompanying report, titled "Big and Fast Data: The Rise of Insight-Driven Business," indicates that investment in big data initiatives is expected to rise over the next three years. But a shortage of analytics specialists and overall IT systems performance issues are keeping senior executives from arriving at critical decisions within an acceptable time frame. Such shortcomings must be addressed for companies to transform data into a key, strategic asset. "We have reached an inflection point in the market," said John Brahim, head of global practice for Capgemini Insights and Data. "Information is at the heart of every business decision, and companies need to fully embrace the opportunities of big data or risk losing out in the marketplace. While some organizations are using big data to reduce cost and improve existing performance, others are using it to drive into new markets and ultimately to monetize data in its own right. Every enterprise must now define a path to become an insight-driven business." More than global 1,000 C-suite level executives and senior decision-makers took part in the research.