So what is so important about Big Data to make it a top priority for so many companies? A quick look at the organizational benefits companies expect to reap from their Big Data efforts answers that question.
When asked to rate the value to an organization of using Big Data, top responses were focused on the improved and timely access to decision-making information. Seventy-four percent of the respondents said their Big Data efforts would make the information more transparent and more usable quickly. Seventy-two percent said Big Data would allow more accurate and timely decision-making.
Other organizational benefits at the top of the list included providing real-time access to data (65 percent), more timely integration of data (63 percent), quicker determination when changes needed to be made (63 percent), and automated decision-making (61 percent).
Big Data has the potential to help companies improve operations and make faster, more intelligent decisions. As such, Big Data initiatives are poised for explosive growth. But like any new technology, there are obstacles that might prevent companies from realizing the full benefits that Big Data can provide.