By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics in sports industry
    Here’s How Data Analytics In Sports Is Changing The Game
    6 Min Read
    data analytics on nursing career
    Advances in Data Analytics Are Rapidly Transforming Nursing
    8 Min Read
    data analytics reveals the benefits of MBA
    Data Analytics Technology Proves Benefits of an MBA
    9 Min Read
    data-driven image seo
    Data Analytics Helps Marketers Substantially Boost Image SEO
    8 Min Read
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Big Data, Big Problems
Share
Notification Show More
Latest News
data analytics in sports industry
Here’s How Data Analytics In Sports Is Changing The Game
Big Data
data analytics on nursing career
Advances in Data Analytics Are Rapidly Transforming Nursing
Analytics
data analytics reveals the benefits of MBA
Data Analytics Technology Proves Benefits of an MBA
Analytics
anti-spoofing tips
Anti-Spoofing is Crucial for Data-Driven Businesses
Security
ai in software development
3 AI-Based Strategies to Develop Software in Uncertain Times
Software
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Mining > Big Data, Big Problems
Data Mining

Big Data, Big Problems

Editor SDC
Last updated: 2010/11/10 at 6:37 PM
Editor SDC
6 Min Read
SHARE

In the global marketplace, businesses and employees are creating and consuming more information than ever before. Gartner predicts that enterprise data in all forms will grow 650 percent over the next five years, while IDC claims the entire world’s data doubles every 18 months.

In the global marketplace, businesses and employees are creating and consuming more information than ever before. Gartner predicts that enterprise data in all forms will grow 650 percent over the next five years, while IDC claims the entire world’s data doubles every 18 months.

According to “The Business Impact of Big Data,” a new global survey of C-level executives and IT decision makers commissioned by Avanade, this data deluge is creating very real challenges for business leaders.

More Read

data analytics in sports industry

Here’s How Data Analytics In Sports Is Changing The Game

What Role Does Big Data Have on the Deep Web?
Use this Strategic Approach to Maximize Your Data’s Value
How Data and Smart Technology Are Helping Hospitalists
Niche Data Tactics to Take Your Business to the Next Level

Big Data – Hype or Business Reality?

Across industries, regions and companies, executives report that the exponential growth in data is impacting their ability to access critical information. According to the report, more than half of business and IT executives, 56 percent, report they feel overwhelmed by the amount of data their company manages. And, many report they are often delayed in making important decisions as a result of too much information.

Despite these challenges, executives are recognizing some value in the deluge of data. For instance, sixty-one percent believe the flood of data entering the enterprise fundamentally changes the way their business operates.

Data Addiction

Although the onslaught of data is making it difficult for executives to make decisions, they are still asking for more, and they want it even faster. This desperation for getting the right information to make business decisions is driving executives to feel more pressure to consume even more information – begging the question: are executives addicted to data? The following data points would argue the answer is yes.

  • 70 percent of business leaders report their current IT infrastructure allows employees to get the data they need at the speed they need it.
  • But, 61 percent of executives say they still want faster access.
  • 1 in 3 say they desire even more sources of data in order to perform their job better.

For many, this data addiction is driven by the inability to find the right information. In fact, a recent industry report demonstrated that during the latest recession, more than one-quarter of executives lost business because they couldn’t access the right information.  It is the lack of correct information that is causing executives to search for more – creating an addictive behavior.

So what kind of information are executives most concerned about? According to the survey, executives’ top priority is the ability to keep up with customer service expectations. And, when it comes to perceptions on the most important kinds of data, customer information remains top priority. This focus on customers is driving technology investments in CRM systems – 67 percent of executives have invested, or are seriously considering investing in CRM in the next 12 months.

Executives are recognizing the opportunity to leverage their data in order to create new revenue streams and generate new businesses, especially when it comes to customers. But alarmingly, less than half of execs view the available sources of data as a strategic differentiator for their organization, and struggle to see big data as a driver of real business value.

Deriving Business Value from Big Data  

So how do we get from where we are today to where we want to be? It is imperative that companies develop a “data culture,” in which executives, employees and strategic partners are active participants in managing a meaningful data lifecycle. Companies need to start educating their employees on how to best participate in this process.

This journey is not just a technology challenge. It is also a people and process problem. It takes a culture shift among the people who are interacting with the data – whether they are producing or consuming – to be more responsible and accountable for the management of the data itself.

Tomorrow’s successful organizations will be equipped to harness new sources of information and take responsibility over accurate data creation and maintenance. This will enable businesses to turn data first into usable information and ultimately into true business insights.

—-

The Global Survey of Big Data was conducted by Kelton Research, an independent research firm on behalf of Avanade, in August 2010. Avanade provides business technology services that connect insight, innovation and expertise in Microsoft technologies to help customers realize results. For more details on this research or to download a copy of the findings, please visit www.avanade.com/bigdata

TAGGED: big data, crm
Editor SDC November 10, 2010
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

data analytics in sports industry
Here’s How Data Analytics In Sports Is Changing The Game
Big Data
data analytics on nursing career
Advances in Data Analytics Are Rapidly Transforming Nursing
Analytics
data analytics reveals the benefits of MBA
Data Analytics Technology Proves Benefits of an MBA
Analytics
anti-spoofing tips
Anti-Spoofing is Crucial for Data-Driven Businesses
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

data analytics in sports industry
Big Data

Here’s How Data Analytics In Sports Is Changing The Game

6 Min Read
big data technology has helped improve the state of both the deep web and dark web
Big Data

What Role Does Big Data Have on the Deep Web?

8 Min Read
analyzing big data for its quality and value
Big Data

Use this Strategic Approach to Maximize Your Data’s Value

6 Min Read
big data and smart technology in healthcare
Big Data

How Data and Smart Technology Are Helping Hospitalists

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?