Enterprises want control over information to drive competitive advantages: study
In a world where information is everywhere, enterprises are beginning to understand that deriving actionable insights from all types of data is the key to driving success. In the next three years, more than 80 percent of organizations plan to incorporate unstructured data into their enterprise insights, processes and strategy.
This was revealed on Friday in a study conducted by Coleman Parkes Research that was commissioned by HP. The study shows that more than half of all its respondents feel that gaining insight and effectively managing Big Data is strategic to their organizations.
According to a study from, 62 percent of private organizations in Asia Pacific and Japan indicated that an effective information optimisation strategy would provide them with a competitive advantage. And 56 percent of public sector respondents indicated that an effective information optimization strategy would allow them to better serve citizens. Additionally, 60 percent of respondents regard the skills of a Chief Data Officer as imperative to bridge the chasm between Big Data and driving enterprise insight.
However, while executives understand the importance of gaining command over the variety, velocity and volume of information, they regard their organizations as unable to address the associated challenges. Only 15 percent of executives said their organizations currently incorporate unstructured data into their enterprise insights, processes and strategy. More than half business executives reported that their organizations are not equipped with the right solutions to gain insight from Big Data.
Of the executives surveyed, only 12 percent said that their IT department immediately provides the right information to obtain actionable insight in order to drive the right business outcome, up from two percent compared to last year. Further, more than half of executives admitted that their organizations are not currently prepared with the right strategies, tools and policies to prevent data corruption and unauthorized access to their data.
- Brands Fail To Use Customer Data to Deliver Personalization: Study
- Delving Into The ABC Of Cyber Security
- Weekly Rewind: Top 10 Stories On CXOToday (Oct 9-13)
- Tele-Health To Bolster Home Healthcare Services
- There's No Stopping The IoT Growth; Here's Why
- Third Party Digital Cos Will Generate Over $31 Bn This Year
- Weekly Rewind: Top 10 Stories On CXOToday (Oct 2-6)
- SAP Leonardo To Help Indian Firms With Digital Transformation
- Qlik to Power Sitel's Big Data Initiative
- How Algorithms Are Revolutionizing Lending Business