Big Data – Is It Producing Big Returns on Investment?
Big-data is more and more commonplace in the domain of information technology nowadays – many entrepreneurs and experts are extremely curious about this question whether data produces the desired return on the investments made for managing it. A survey conducted by the Avanade IT Research Company.
According to the findings of this research study, the majority of companies are satisfied with the ROI produced by the investments on big data in their organizations. This study reveals that more than 73% of the senior management of the companies who participated in this survey believe that their investment in big data tools and business intelligence has increased the revenue of the company – Meanwhile, as much as 27% of these C-level people are not satisfied with the investment in big data.
If we look at the issues related to managing the big data, we would find that there are many problems that cause opposing effects on proper care of big data; subsequently, many companies may not be able to get the returns on their investment as per their desired targets. This fact can be verified by the results obtained from this study – more than 85% of the participants believe that it is difficult to handle big data for better results due to many obstacles like overwhelming of data volumes, shortage of experienced and dedicated staff and security of big data.
Similarly, more than 58% of managers report that it is extremely difficult to find a suitable tool for big data management – although, many these managers are also satisfied with the progress in this area in recent years.
A majority of the companies, as many as 58% have reported that they have already implemented big data management into their business plans and future product lines.
From these research results, it is abundantly clear that the investment returns produced by the investment on big data management are big ones – many companies are in the process of implementing the same. Although, there are many obstacles that are retarding the achievement of better results – these obstacles can be removed with the use of effective tools, merger of the structured and unstructured data, empowerment of the staff and optimization of the data and many other such factors.
By Walter Bailey