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6 Observations From a New Survey on the State of Big Data Analytics

A new survey of 316 executives from large global companies provides a current view of the state of big data analytics implementations.  The survey was conducted by Forbes Insights and sponsored by Teradata in partnership with McKinsey.  

Gil Press, writing for Forbes, presents highlights from this survey:

-”The hype gone, big data is alive and doing well.”

About two-thirds of respondents report that big data and analytics initiatives have had a significant and measurable impact on the revenues of their organizations.

-”The right organizational culture is key to big data success.”

51% of executives surveyed reported that adapting and refining a data-driven strategy is the single biggest cultural barrier.

-”Big data is top of mind when the CEO loves data.”

Organizations led by CEOs who personally focus on big data initiatives view big data as the single most important way to gain competitive advantage.

-”Going from the right attitude to the right action is a long big data journey.”

48% of executives surveyed consider making fact-based business decisions based on data as a key strategic challenge.

-”There’s gold in them thar brontobyte data mountains.”

Big data is driving opportunities for innovation in three key key areas: creating new business models (54%), discovering new product offers (52%), and monetizing data to external companies (40%).

-”Big data miners still very much wanted.”

Hiring talent with the right set of skills and experiences is challenging.

 

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