Most companies using BDA better understand customers, see higher returns
Insufficient existing infra and organisational complexity the top 2 challenges
ENTERPRISE big data strategies are delivering key benefits to organisations despite noted challenges in implementation, according to a global study commissioned by CA Technologies.
Most notably, nine in 10 organisations are experiencing or anticipate seeing more effective targeted marketing and selling campaigns, CA Technologies said in a statement. Additionally, 88% see or anticipate increased revenue.
These benefits are impressive despite 92% of respondents citing obstacles to their big data projects, the company added.
The study, titled The State of Big Data Infrastructure: Benchmarking Global Big Data Users to Drive Future Performance, also revealed the top five major obstacles to overcome for successful big data project implementation.
These are insufficient existing infrastructure (32%); organisational complexity (27%), security/ compliance concerns (26%); lack of budget/ resources (25%); and a lack of visibility into information and processes (25%).
Yet the benefits clearly outweigh the obstacles as 84% of large organisations have already, or plan to, implement a big data project within the next year, CA Technologies said.
Managers cite improving customer experience (60%), acquiring customers (54%) and keeping up with competition (41%) as critical business factors and major drivers for deploying big data projects.
“This research uncovers the promise of big data and its application to a broad range of organisational priorities,” said Chris Wilson, vice president of solution sales at CA Technologies (Asia Pacific and Japan).
“While organisations face challenges in tackling complexities associated with implementation efforts, the results overwhelmingly demonstrate that companies are committed to developing and deploying fully integrated big data strategies.
“By overcoming the obstacles, companies can successfully compete in the application economy,” he added.
According to the survey, companies see big data as an important aspect of digital transformation in the application economy.
Respondents report already seeing, or anticipating, benefits of increased revenue (88%); improved competitive positioning (92%); ability to provide new products or services (94%); and more effective targeted marketing campaigns (90%).
Additional findings include (click infographic to view in full):
Virtually all (98%) respondents acknowledge that major investments are required to allow their big data projects to work well;
More than half (56%) of respondents see scaling existing projects to address more data sources as a major priority for their big data projects; and
The majority of big data projects are independent, with one in five organisations having a project limited to a single department or area.
The amount of data organisations have has increased by an average of 16% in the last two years, which is predicted to rise by a further 24% in the next two years.
The benefits of implementing big data projects as a way to succeed in the application economy ultimately outweighs the challenges for businesses, CA Technologies argued.
On average, respondents have experienced improvements of up to 21% due to successful big data projects.
Vanson Bourne conducted the CA Technologies-sponsored study of 1,000 IT managers in 11 countries from a range of sectors, including retail, financial services, banking, telecom, insurance, and government.
The key elements of the study focused on the complexities and challenges organisations are facing with their big data infrastructure and environment.
To request a copy of the research, click here.
As big data grows, so does the confusion it brings: Forrester
Most organisations now have big data plans: Gartner survey
Big data benefits recognised in Asia but potential untapped: EIU study
In 3yrs, the term ‘big data’ will disappear: Teradata CTO
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