Appreciating Big Data Analytics’ Business Value
Technology Making Biggest Impact in Last Five Years
Mobile computing topped the list, at 66%, followed by data analytics, at 51%, and cloud computing, at 45%.
Technology Expectations in the Next Five Years
Just over half (55%) said customers will demand 24/7 access and connectivity, closely followed by faster access to services (53%).
A Brave New Digital World
A full 68% said the combination of mobile, social, analytics and the cloud is changing the world as we know it.
Digital Impact on the Business
Almost three-quarters (73%) said digital technologies will have a direct impact on business in the next five years, while 68% said they already have.
Turning Information Into Actionable Intelligence
A full 71% claim they are good or very good at turning data into useful information, while only 6% said they are poor or very poor at doing so.
Impact of Massive Amounts of Data
Only 36% said access to an abundance of data is making a significant difference in their business, versus 38% that said it helps some. Conversely, 14% said it makes things harder.
Drivers of Better Data Usage
More than half (54%) said customers are forcing the issue, followed by 39% that said competitors are doing so.
Technology Drivers of Business Change
Big data analytics was cited most by 43%, followed by automation (37%) and cyber-security (36%).
Areas of Predictive Analytics Success
Finding cost savings comes in first, at 43%, followed by identifying consumer trends, at 40%.
Ability to Innovate in an Agile Way
A quarter (25%) said they can do this across the organization, versus 58% that claim to be able to innovate quickly in parts of the business.
Ability to Operate in Real Time
Less than a third (29%) claimed to be able to do this organization-wide, versus 52% that said they can operate in real time in pockets of the business.
Availability Products and Services
A full 43% currently provide access 24/7, while 23% plan to in the next 12 months. Another 18% plan to do so in a year or more.
Access to Data Scientists
A little less than a quarter report having access to data scientists, while 40% have a wealth of data and tools but no data scientists.