Big Data, Big Expectations

Oct 30, 2012

Paul Barth and Randy Bean recently discussed with editors at Harvard Business Review some of our key findings from the  NewVantage Partners Big Data Executive Survey published last month. We 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. Here are some of the trends we uncovered:

  • Executives have high hopes for Big Data and expect major benefits from their initiatives. Organizations are slowly getting a grasp on Big Data, but don’t yet have all the capabilities they need to take full advantage of it.
  • Seventy-five percent of respondents expected Big Data initiatives to have an impact across multiple lines of business, but many of these initiatives are in the formative stage and organizations could not yet report actual business results.
  • The survey showed organizations continue to experience data challenges with only fifteen percent of respondents identifying their access to data today as ‘adequate’ or ‘world class.’

The results of the NewVantage Partners Big Data Executive Survey show that companies are enthusiastic about their Big Data initiatives, but there are still challenges ahead that could hinder their progress. One of the most significant challenges is on the people front. Organizations must work to identify and recruit top-tier talent and build organizational alignment to ensure projects stay on target and are in line with the expectations of the C-Suite.

By Steve Maxwell

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