Enterprise Big Data strategies are delivering key benefits to organizations despite noted challenges in implementation, according to CA Technologies.
Nine in 10 organizations are experiencing or anticipate seeing, more effective targeted marketing and selling campaigns. Additionally, 88 percent see or anticipate increased revenue. These benefits are impressive despite 92 percent of respondents citing obstacles to their Big Data projects.
“Cyber security (not just compliance) is one of the key drivers for the adoption of Big Data in the enterprise. Many organizations are trying a build-it-on-our-own approach, but are quickly realizing that these systems are complex and are therefore looking at commercial solutions,” said Sriram Ramachandran, CEO at Niara.
The top five major obstacles to overcome for successful Big Data project implementation. These include:
- insufficient existing infrastructure (32 percent)
- organizational complexity (27 percent)
- security/compliance concerns (26 percent)
- lack of budget/resources (25 percent)
- lack of visibility into information and processes (25 percent).
et 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. 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.
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 percent), improved competitive positioning (92 percent), ability to provide new products or services (94 percent), and more effective targeted marketing campaigns (90 percent).
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.