Everyone’s talking about Big Data. About the great volume, variety and velocity of the data as well as the value it can create to those organizations that fully leverage Big Data. But how many companies today are really taking full advantage of Big Data in a meaningful way?
To find out, we at Kapow have commissioned a market survey to gauge attitudes toward Big Data initiatives among business and IT professionals, gaining insight into the perceived challenges, benefits and what is required to be successful with Big Data initiatives. While more than 85% of both business and IT respondents agree that the value is in the ability to foster a data-driven culture and make intelligent business decisions – only 23% rate their Big Data initiatives as successful.
So why is the gap so big? Among the key perceived barriers are concerns about having the right skills, time it takes to derive real value from Big Data and the ability to effectively leverage variety of data sources. The wish list of what Big Data solutions should provide include data integration from multiple sources, automation of data collection tasks, shortening the time to put data to work and making relevant data more consumable for workers without relying on data scientists. Unfortunately over 50% of respondents say their Big Data solutions today are not effective in addressing these requirements.
While manual data aggregation is still widely common among over 80% of the respondents, 85% believe Big Data strategies should be user-centric so that Big Data insights can be easily consumable by business consumers in sales, marketing, customer care and finance – to make more agile decisions. These solutions will remove barriers related to talent, time and resources and will make Big Data readily accessible, affordable and actionable across the organization.
The result is that customer service reps are better equipped with relevant information from a variety of internal and external sources to reduce the call time and provide better service experience. Sales executives spend less time finding information about their prospects and marketing managers know more about their competition in real-time.
Put data to work for you!
Authored by: Hila Segal, Director, Product Marketing