Big Data an Extended Journey for Many Companies
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Big Data an Extended Journey for Many Companies
Using big data is a major challenge for most organizations, which are facing challenges in adjusting their processes to incorporate real-time analytics. -
Current State of Process Management
88% of respondents' organizations now monitor most of their operational processes, and 67% have a program for optimizing and improving processes over time. -
Operational Process Assessments
83% stated that their operational processes take too long; 86% said their organizations are either seeing, or would expect to see, benefits with collecting and analyzing data quickly. -
Big Data Investments
On average, organizations have increased their investments in the collection and analysis of data by 21% in the past 12 months. This is set to increase by 23% in the next two years. -
The Big Data Analytics Challenge
73% agreed that analyzing a lot of data is a challenge. Worse yet, acting on the data in real time is a challenge for 65%. -
No Data Confidence
Only one-fifth of surveyed decision-makers are extremely confident in the reliability (23%), accuracy (21%) and completeness of their data (21%). -
No Confidence in IT
26% believe that their IT departments are supporting their needs for real-time analysis of data. More than half (56%) of organizations are using manual processes to collect and analyze data. -
Biggest Big Data IT Challenges
47% cited keeping data secure as their biggest big data challenge, followed closely by 46% citing the cost of storing it. -
Top Unfulfilled Big Data Goals
Almost a third (32%) of respondents want to be able to predict customer behavior, while 28% want to use mobile applications to collect data. -
Expected Big Data Benefits
74% said more visibility into internal processes could lead to operational improvements; 65% said it would also decrease the chances of falling behind their competitors; and 41% cited missed revenue opportunities. -
The Cost to the Business
85% said their organizations are experiencing challenges because they are failing to use data quickly. Less than half (44%) said it's difficult to determine what processes to prioritize.
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Why Metrics Matter to the Channel In theory, we're supposed to be living in the age of the real-time business, thanks in part to the fact that more data is accessible than ever. However, a new global survey of 750 IT and business leaders conducted by Vanson Bourne on behalf of Software AG finds that nearly three-fourths of those polled are facing challenges analyzing massive amounts of data and 65 percent can't act on that data in real time anyway. Nevertheless, the study finds that investments in big data projects continue to grow, even though almost half the organizations polled admitted they have issues securing large amounts of data and finding cost-effective ways to store it. Worse, most respondents said they don't have much faith in the quality of their data or the abilities of the internal IT organization when it comes to real-time analytics. For solution providers across the channel, the implications are that organizations are going to be challenged in adjusting their processes to incorporate real-time analytics. That doesn't mean they will stop investing, but it does mean that any business transformation brought about by big data analytics is going to be, at best, an extended journey.