Big data is probably one of those buzz words with as much ambiguity as “the cloud.” While people still wade through the murky waters to determine the specific business value of big data investments, one thing is for sure, big data is a big deal. Almost every industry stands to benefit from the insights big data can provide.
When there are multiple departments and many moving pieces within your business at any given time, managing the copious amounts of data produced can become a cumbersome task. Many business decision makers question, “What can we do with all of this information?” and “How it will benefit my business operations?”
Microsoft recently executed research among 282 U.S. IT decision-makers, with more than half within the manufacturing, healthcare and financial services industries, to understand current business intelligence technology use and big data implementation plans.
Here are a few key findings:
Nearly half (49 percent) rated managing data growth as extremely challenging when managing their companies’ business intelligence (BI).Nearly one-third (32 percent) of respondents expect the amount of data they store to double in the next two to three years.53 percent rated increased amounts of unstructured data to analyze as extremely important.
You can view the full results of the survey in this Global Enterprise Big Data Trends: 2013 infographic, which shows the monumental implications of big data as the amount of information produced and stored is anticipated to grow. In a recent big data focused blog posted on Microsoft’s News Center, Susan Hauser, corporate vice president of Microsoft’s Enterprise and Partner Group, says “Big data absolutely has the potential to change the way governments, organizations, and academic institutions conduct business and make discoveries, and it’s likely to change how everyone lives their day-to-day lives.”
While big data analysis continues to grow as valuable asset for businesses, we will continue to monitor how different industries implement solutions to incorporate big data into the overall business process.