Even though the hype around big data has passed its peak — at least according to figures from Gartner — the enterprise world is still working on integrating big data and analytics into business operations. Those who have implemented big data have begun to see some results as investments made in the last couple of years catch up. A recent study from Accenture surveyed more than 1,000 executives from companies operating across seven industries and headquartered in 19 countries who had completed at least one big data implementation. The findings point to a mostly pleased cross section of executives who made the decision to use big data to help them digitize their businesses, and move more operations onto digital platforms. The infographic below is part of the report indicating percentages of survey respondents:
Some of the key information relates to executives’ growing understanding of what big data can actually do for businesses aiming to make their organizations more digital. As decision makers gravitate towards implementing big data into their IT departments, and use it to further their infrastructures’ digital needs, the more they anticipate how big data can change the way they do business. 92% of executives from companies that have completed a big data implementation are satisfied with the results and 89% rated big data as “very important” or “extremely important” to their businesses’ digital transformations. 84% of users see their companies’ digital strategies influencing the adoption of big data.
Certain industries have found particularly important usages for big data. For example, the survey notes that “one of the world’s biggest package shippers is also among the world’s largest big data users, spending $1 billion annually to store and study 16 petabytes of data from every conceivable point of its business”. As the internet of things progresses, and more devices maintain internet connections, more data points become available to contribute to the overall data analytics picture. Companies that maintain supply chains, such as a package shipper, are finding big data analytics to be of specific use in that sense. Analyzing data points along a supply chain also helps large companies maintain compliance.
Still, many companies believe they have a lot more to learn about how to take advantage of big data. The survey describes many users imagining that they will deploy big data projects, and that challenges will be few, but security, budget, and talent are just three of the elements that can be obstacles when implementing big data solutions. More than 41% of respondents reported a “lack of appropriately skilled resources, and almost as many (37%) felt they did not have the talent to run big data and analytics on an ongoing basis”. Organizations big and small will likely be exploring these challenges, and influencing the way big data is incorporated into business operations, for years to come.