Data integration software companies have provided new solutions to help “realize the promise of Big Data;” but, have organizational wishes “to drive competitive advantage, new business productivity and new revenues and profits” truly been fulfilled? According to a recent Avanade’s study, the answer is yes, while the real question remains: at what cost? The survey of 569 C-level executives, business unit and IT leaders across 18 countries, suggests that for all Big Data’s potential and the increasing optimism professionals have for its utility, management and analysis hamper maximal return. The recent Avanade Blog infographic titled, “Is Big Data Measuring Up to Its Promise,” explains three noteworthy points concerning Big Data implementation; namely that it is pervasive, top priority for IT professionals, and still fraught with challenges.
Once considered an IT job, data management and analysis are now widespread across business departments as 95% of respondents did not define business analysts as technology staff. Nearly 60% of participants indicated that data management pervades their organization and 75% will invest more in data analysis. This increased adoption seems more than justifiable given that 84% of respondents suggest that big data analysis has facilitated better business decisions and nearly 75% report that it has been important to increased revenues. Although a large percentage of respondents enjoyed Big Data’s benefits, most also expressed frustration concerning limited staff of which, not everyone demonstrated the necessary skills, as well as security concerns that made data management challenging.
The report also notes how quickly and significantly perception and implementation of Big Data has changed: “Two years ago, the conversation was focused on the pain points of big data. In fact, more than half of companies felt overwhelmed by the sheer volume of data. Fast-forward to 2012. Data creation and use is being accelerated by trends such as the consumerization of IT, increased mobility and the growing use of social networks, as well as rapid adoption of cloud computing.”
Although even the best data scientists find it challenging to manage and capitalize on large data loads, Big Data, undoubtedly, produces worthwhile returns. Perhaps the age-old romantic wisdom is also true for Big Data: “You have to love someone for who he is, not his potential.”