The majority of major, global organizations are now fully immersed in big data projects. And CIOs who are helping lead these efforts are under pressure to perform: These initiatives are stretching into the eight-figure range in terms of budgeting, and corporate leaders fully expect ROI to cross the double-digit percentage range, according to a recent survey report from Tata Consultancy Services (TCS). Of course, many challenges exist. For starters, executives are facing difficulties in getting individual business units to share information outside of their own silos. And it's also tricky to determine which data to use for various business decisions, the report states. "Big data has enormous potential and early adopters are projecting a high ROI on investments," says Satya Ramaswamy, vice president and global head of mobility and next gen solutions for TCS. "However, overcoming the technological challenges is only part of the story. Businesses need to carefully think where big data initiatives should sit within the organization, and they must consider the potential cultural changes within to speed-up adoption." Executives from more than 1,200 global companies took part in the research.
Top Big Data Business Areas Sales: 15%, Marketing: 15%, Customer service: 13%, R&D and new product development: 11%
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