Big data shows its business-improving potential once again

Companies that have recently launched projects with big data initiatives say the results are generally positive, proving once again the potential of big data for improving business, a new research by CompTIA reveals.

According to the research, 72 per cent of companies which have self-reported launching some form of big data initiative say the results have exceeded expectations.

The CompTIA’s Big Data Insights and Opportunities report also suggests there is much room for improvement.

“The amount of data crossing the wires and airwaves is mind-boggling,” says Seth Robinson, senior director, technology analysis, CompTIA. “So while individual pieces of a holistic data solution may be improving, these individual pieces are not yet integrated in a way that drives ideal results.”

Approximately three-quarters of organisations surveyed by CompTIA say that their business would be stronger if they could harness all of their data. Additionally, 75 per cent of companies feel that they should be more aware of data privacy, while 73 per cent feel they need better real-time analysis.

Companies cite several factors for the increased importance of data:

  • 63 per cent rely on data for day-to-day operations.
  • 61 per cent cited sensitivity around data privacy.
  • 60 per cent use data to better understand customers.
  • 59 per cent rely on data to measure business objectives.
  • 56 per cent say they store data outside the company.

“This reflects a theme consistent throughout much of our research,” says Robinson. “Technology is a more powerful tool for every facet of the organisation and business lines are weighing in on technology matters as they use these tools to drive their objectives.”

All data is growing in volume, including email, instant messages, log files and documents. They’re also dealing with fragmented and siloed data: 45 per cent of companies say that a high degree of their data is fragmented; another 42 per cent say their data fragmentation is moderate.

The full report can be found on this link.