2014 Big Data Outlook: Opportunities and Challenges

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Why Big Data is so important

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.

To better understand the business drivers, expected benefits, and challenges of Big Data, QuinStreet Enterprise conducted a survey of 540 decision-makers involved in Big Data purchases.

The survey found that:

  • 77 percent of respondents consider Big Data analytics a priority
  • 72 percent cite enhancing the speed and accuracy of business decisions as a top benefit of Big Data analytics
  • 71 percent of mid-sized and large companies have plans for, or are currently involved with, Big Data initiatives.

However, even with this enthusiasm for Big Data and the expected benefits it might deliver, companies face numerous challenges in their Big Data efforts. Many are concerned about:

  • Big Data project and management costs
  • How to scale their infrastructures to accommodate the large volumes of data to be analyzed
  • Overcoming data silos and application integration.

Download Now: 2014 Big Data Outlook: Big Data Is Transformative – Where Is Your Company?

 

Related Topics : Vulnerabilities and Patches, Resellers, Broadcom, Broadband Services, Supercomputing

 
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