Proving data’s case in the business world
Lack of education is still the No. 1 thing hindering greater adoption of Big Data by businesses, according to research. And executives indicate it will be years before Big Data’s usefulness is fully realized.
Research from 1010data conducted by uSamp found that a majority of US business executives said their companies were not using Big Data because they needed more education on how it solves business problems. There was also a strong perception that the solutions offered by Big Data did not necessarily address the needs of business users—another sign education is a big remaining hurdle for businesses to overcome before getting the most out of their data.
That lack of education has likely already hampered adoption of Big Data by businesses, and only 12% of respondents thought Big Data had already reached its full potential in the business world. While around a third of respondents were optimistic enough to say that would happen sometime in the next year, the most common response was the next five years. Nearly as many people thought it would take 10 or 20 years for Big Data to come into its own as said it already had.
Respondents expected the finance and retail industries to get the most out of Big Data by the end of this year—two verticals that have been relatively quick to take up the Big Data burden. While about half of respondents thought finance would see success with Big Data in 2013, just 33% said the same of the media and advertising industry.