The State Of Big Data: What The Surveys Say

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The State Of Big Data: What The Surveys Say                                                            
            
                    
                                                                                Fall is a busy time for thought leadership marketing, the time of the year when many companies release the results of surveys they conducted or sponsored recently. Not surprisingly, given the prominence of the buzzword, big data is the subject of numerous studies this year. Here are the highlights:
If you get consumers to trust you, you can shift market share and accelerate innovation
“To help companies develop differentiated strategies for navigating the landscape of trust in the age of big data,” BCG surveyed nearly 10,000 consumers in 20 countries:

• For 75% of consumers in most countries, the privacy of personal data remains a top issue
• Millennials are no less private online than other generations
• Consumers are willing to allow the use of personal data for multiple purposes if, and only if, organizations are careful stewards of this information.
  

To discover how to achieve “an alignment of strategy, technology, and organizational structure,” IBM surveyed 900 business and IT executives from 70 countries.  IBM found that the leaders (the top 19% who identified themselves as substantially outperforming their industry and market):

• Are 166% more likely to make most decisions based on data
• Are 2.2 times more likely to have a formal career path for analytics
• Cite growth as the key source of value from analytics (75%)
• Measure the impact of analytics investments (80%)
• Have some form of shared analytics resources (85%).
  

Experience counts: Marketers that use big data in marketing are better at it
Sponsored by Rocket Fuel, Forbes Market Insights conducted a survey of 211 senior marketers (with marketing budgets of at least $10 million), asking about the success of marketing initiatives and the use and benefits of big data:

• Of the organizations that used big data at least half the time in their marketing campaigns, three in five (60%) said that they had exceeded their goals. Yet of the companies that used big data less than half the time, only one in three could say the same.
• More than nine in 10 companies (92%) who said that they had made sufficient use of big data met or exceeded their goals, while just 5% of those who made sufficient use of it fell short.
  

First mover advantage works also in big data
Examining more than 400 large companies, Bain found that those with the most advanced analytics capabilities are outperforming competitors by wide margins. The leaders are:

• Twice as likely to be in the top quartile of financial performance within their industries
• Five times as likely to make decisions much faster than market peers
• Three times as likely to execute decisions as intended
• Twice as likely to use data very frequently when making decisions.
  

Only 4% of the companies surveyed, however, attributed better decision making and financial performance to the use of big data analytics. Only 23% of companies Bain talked to said they have a clear strategy for effectively using analytics and only 19% said they had access to high quality and consistent data. Report co-author Travis Pearson, a Bain partner, told CIO Journal  “it’s still ‘early days’ for big data.”
Big data sounds good, but we are not really into it now
TEKsystems surveyed more than 2,000 IT professionals and more than 1,500 IT leaders on the topic of big data:

• 90% of IT leaders and 84% of IT professionals believe investments of time, money and resources into big data initiatives are worthwhile
• Only 14% of IT leaders report big data concepts are regularly applied in their organizations
• 66% of IT leaders and 53% of IT professionals say their data is stored in disparate systems
• 60% of IT leaders say their organizations lack accountability for data quality
• More than 50% of IT leaders question the validity of their data
• 81% of IT leaders claim their organization lacks the specialized staff needed to plan, build and run big data initiatives.
  

Gartner surveyed 720 Gartner Research Circle members worldwide to find out about their big data investment plans:

• 64% of organizations are investing or planning to invest in big data technology compared with 58% in 2012
• Less than 8% of survey respondents have actually deployed.
  

Tech Pro Research surveyed 144 respondents worldwide about budgeting for big data, benefits and employee staffing:

• 8% have already implemented big data, 12% are in the midst of implementation, and 26% are planning to implement it. 54% have no interest or plans to implement big data.
• Of those who have implemented big data, 82% report seeing at least some payoff in terms of goals achieved. Only 4% say they’ve experienced no identifiable value.
  

Big data sounds good and we are really into it now
“End user research” conducted by Enterprise Management Associates (EMA) and 9sight Consulting, and sponsored by Pentaho, found users moving from pilot implementations to big data production:

• Big data implementations in production rose from 27% in 2012 to 34.3% this year
• 68% of companies are running two or more big data projects as part of their big data initiatives
• The top three big data business drivers include: speeding time for operational or analytical workloads (39%); increasing competitive advantage with flexibility of data used in business solutions (34%); and business requirements for higher levels of advanced analytics (31%)
• For companies with an analytics strategy in place, the top business driver was the need to combine sales information into operational analytics (57%).
  

[Update: According to the full report, the results are based on responses from 259 business and technology professionals who "self-identified as being active participants with a working knowledge of current operational and analytical data management practices within their company that is presently researching, planning or implementing Big Data strategies."]
IT industry association CompTIA surveyed 500 business and IT executives about their big data initiatives:

• 42% percent of respondents say they are engaged in some kind of big data initiative, up from 19% percent in last year’s survey. “The report says,” reports James E. Powell, “the figure may be high because of confusion or how respondents define big data.”
• 93% of survey participants say data is critically important to their business
• Only 18% of respondents overall admit that their business is “exactly where they want to be in managing and using data.”
  

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