Big Data Getting Attention in C-Suite

7:32 pm Analytics, Big Data, Data

According to a recent survey of executives at Fortune 1000 companies and large government agencies, the C-suite has high hopes for the value that analytics on Big Data promises, but is this just a wild pipe dream?

The survey revealed that eighty-five percent of respondents expected to gain substantial business and IT benefits from Big Data initiatives, with the main expected benefits being ‘fact-based decision making’ and ‘Customer experience’. Sound familiar so far?

Whilst it is encouraging to read companies are raising their hopes of BI to have a “positive impact across multiple lines of business” the recorded constraints in Big Data Analytics are the same for any BI implementation over the last 10 years, namely:

  • Access to data [85%]
  • Analytics capability [79%]
  • Ability to use data and analytics to transform their businesses [83%]

Digging under these findings it appears that there is still diverse perspectives as to exactly what ‘analytics capability’ really is, with wide variations between responses between business and IT respondents. Seems the IT-business communication gap hasn’t got any closer, in spite of BI supposedly reaching a reasonably high state of market maturity. In general, IT executives have a higher opinion of the company’s analytics capability than business executives, who in turn, rate their own capacity to transform data into decision making insight more generously than IT.

The biggest challenge seems to be “integrating a wider variety of data” This has always been a primary challenge of BI and an issue not well understood by the business. I rather suspect the perception of collaboration between Business and IT executives is still overrated. Getting the organization aligned is key to delivering the Big Data promise.

Seems like same problems – bigger data set to me!
Read full survey article on Harvard Business Review

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