92% CIOs Face Obstacles In Big Data Implementation
While over four out of five companies are taking on Big Data projects this year, almost all (92 percent) of them continue to see obstacles in their implementation, says a global study from CA Technologies.
As far as investment in Big Data is concerned, this year can be a major turning point. However, several pain points are being uncovered in the study. The biggest obstacle is around insufficient existing infrastructure as said by 30 percent of respondents, followed by organizational complexity, security and compliance concerns, lack of budget and resources, and lack of visibility into information and processes.
All five major obstacles are pain points that Big Data platform providers have attempted to address in recent updates.
Yet the benefits clearly outweigh the obstacles as 84 percent of large organizations have already, or plan to, implement a Big Data project within the next year. Despite these pain points, almost 90 percent of organizations are seeing or anticipating benefits of increased revenue from these projects.
The study finds companies are using Big Data analytics to better understand customers. Organizations are reporting or anticipating increased revenue thanks to improved competitive positioning, ability to provide new products or services and more effective marketing campaigns. Managers cite improving customer experience (60 percent), acquiring customers (54 percent) and keeping up with competition (41 percent) 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 organizational priorities,” said David Hodgson, general manager, Mainframe, CA Technologies.
“While organizations 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 said.
Additional key findings revealed:
- Virtually all (98 percent) respondents acknowledge that major investments are required to allow their Big Data projects to work well.
- More than half (56 percent) of respondents see scaling existing projects to address more data sources as a major priority for their Big Data projects
- The majority of Big Data projects are independent, with one in five organizations having a project limited to a single department or area.
The amount of data organizations have has increased by an average of 16 percent in the last two years, which is predicted to rise by a further 24 percent 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. On average, respondents have experienced improvements of up to 21 percent due to successful Big Data projects, the study said.
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