Big Data Projects Encounter Headwinds
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Big Data Projects Encounter Headwinds
Only 27% of big data projects are profitable, a new study finds. Solution providers should be aware of big data challenges and avoid overpromising results. -
Big Data Projects Proliferate
More than half (55%) said that regular, ongoing big data projects are in progress today at either the enterprise or department level. -
ROI of Big Data Projects
While only 27% of big data initiatives are profitable, 45% of respondents said they are breaking even. Another 12% indicated that big data initiatives are losing money, while 12% said it is too early to tell. -
Companies With Profitable Big Data Projects
Among organizations with profitable projects, the top benefit is improved customer satisfaction and customer retention (51%). Three-fourths of profitable respondents reported they had made excellent or very good progress in improving data quality and data governance, compared to 50% overall. -
Executives Keep the Big Data Faith
Almost half (49%) who have high levels of executive buy-in report their big data initiatives are profitable, compared to just 6% who do not have executive support. -
Big Data Project Ownership
The CIO controls 39% of projects in the United States, compared with 64% in European companies. Overall, strategy execution is most often in the hands of data specialists (30%), IT management (28%) and database architects (21%). -
Vertical Industries With the Most Big Data Projects
Communications and energy/utilities/chemical topped the list at 60% each, followed by consumer and packaged goods at 55% and retail at 53%. -
Big Data Organizational Benefits
Better decision-making (37%), collaboration and information sharing (34%), and increased productivity (33%) top the list of big data benefits. -
Big Data Challenges
Budget constraints (44%) and integration (35%) are the top two challenges to becoming insight-driven organizations. -
Big Data Plans
While 30% said they plan to accelerate their big data initiatives, 16% said they would continue at the current rate, 25% said they would remain in the planning or proof-of-concept phase, 15% said they would modify their strategy or start over, and 12% said they would put big data initiatives on hold.
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Why Metrics Matter to the Channel Although interest in big data projects remains strong, many organizations are starting to encounter significant headwinds, a new survey of 210 IT executives in North America and Europe shows. Conducted by IDG Research Services on behalf of Capgemini and Informatica, the study finds that just a little over one-fourth of the respondents said their big data projects are profitable. Potentially more troubling is that less than a third of study participants are rapidly expanding those big data projects. Budget constraints and integration are cited as the two biggest challenges when it comes to deploying big data projects. For solution providers, the most important takeaway from the study might very well be resisting the temptation to over-promise when it comes to big data investment results. It clearly takes a fair amount of time for those investments to pay off. In the meantime, solution providers across the channel would be advised to prepare for a period of big data disillusionment, to be followed by more rapid adoption once organizations better understand how to turn all their data into strategic business assets.