New survey reveals that big data is reaching critical levels

A large-scale survey by Avanade has discovered that big data has started to reach its tipping point in business. Big data is used to describe the huge amounts of semi-structured and structured data which is created in a company. For many firms, the way in which the data is accumulated and used could seriously affect the success of the business.

In the world of business we are already seeing huge returns on big data investments as companies are becoming used to navigating their big data. Approximately 91% of all companies have reported how well they are managing and analyzing data, with 75% hoping to invest further in data analytic systems.

Few companies understand how to find value from big data, although many collect it. The volume of data as well as the security concerns are becoming a struggle while investment into data conversion is high. Companies are mainly focusing on management tools, mobile data access and predictive analytics, in terms of usefulness.

During the survey by Avande 85% of respondents talked about the obstacles to managing and analyzing the data, with the majority of C-level executives explaining that their biggest problem was to source the correct technology to handle the data.

IT professionals mainly believe that the main issue is to find the correct staff to handle the data. Shareholders in companies feel that new skills need to be developed so the data can be turned into business insight, therefore wider investment in staff skills is required, particularly in visual design, statistics and maths.

The survey was conducted using 569 C-level executives, IT decision makers and business leaders; and Avande has published four key trends which can be used so businesses can get the most out of the collected data.