Small business takeaways on Big Data. Article relates the reality of now and the hopes for the future as well as the confusion and lack of understanding by many.
Excerpt: We recently surveyed executives at Fortune 1000 companies and large government agencies about where they stand on Big Data: what initiatives they have planned, who’s leading the charge, and how well equipped they are to exploit the opportunities Big Data presents. We’re still digging through the data — but we did come away with three high-level takeaways.
First, the people we surveyed have high hopes for what they can get out of advanced analytics.
Second, it’s early days for most of them. They don’t yet have the capabilities they need to exploit Big Data.
Third, there are disconnects in the survey results — hints that the people inside individual organizations aren’t aligned on some key issues.
High expectations. Big Data clearly has the attention of the C-suite — and responding executives were very optimistic for the most part. Eighty-five percent expected to gain substantial business and IT benefits from Big Data initiatives. When asked what they thought the major benefits would be, they named improvements in “fact-based decision making” and “customer experience” as #1 and #2. Many of the initiatives they had in mind were still in the early stages, so we weren’t hearing about actual business results, for the most part, but rather about plans and expectations:
Read full article via Who’s Really Using Big Data – Paul Barth and Randy Bean – Harvard Business Review.