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Over 50% of CIOs and CTOs in Singapore told Robert Half Technology they found the high costs of using big data to be a leading challenge, according to a January 2017 report. With so many respondents pointing to the financial burden of big data, this challenge far surpassed all others.
However, other challenges also figured prominently, with 37% of executives naming data protection and security as a leading challenge, while 36% listed financial resources.
These same executives were also polled on the advantages of using big data. Over 50% said data-driven and strategic decision-making is a leading benefit, and nearly as many pointed to the promise of new and enhanced business models.
While big data is understandably a major drain on budgets, a leading benefit over time is that data technology ultimately reduces costs—45% of executives surveyed said so.
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