Half the senior finance executives in the U.S. said they wanted to
master Big Data in order to move ahead of competitors. Less than a
quarter said they will focus on implementing that technology over the
next year.
Almost half of the executives surveyed stated they would not increase spending on Big Data (Being defined as a form of analysis that involves encoding vast amounts of information for insights that aren’t detectable at smaller scales).
Instead, the most-commonly chosen area of focus by 44% of the executives, was to better integrate the company’s existing information systems.
As the year progresses, various organizations are talking about Big Data, more specifically in the retail and marketing sectors, but Big Data is costly to bring in, and somewhat less understood. These are two barriers that are keeping companies from embracing the technology. Companies worry that by bringing in the technology they will inspire “Big Brother” concerns among their employees and customers that everything they’re doing is being watched.
Executives did not expect Big Data to become such a big discussion in analysis gathering, but choosing to focus on their core analytical capabilities instead. A recent survey indicates that only seven of the executives said companies should use Big Data as a substitute for older analytical techniques, and 25 said Big Data is not yet valuable enough to justify its costs.
The most-commonly cited obstacle to cloud technology is security. Cloud computing needs the storage of data on Internet-connected servers, often for a fee, so that it can be accessed from anywhere around the world.
Half of the executives within the survey said security was among their top three concerns. When considering cloud technology, executives feared that they were losing control of that data. With that being said, these challenges involve exiting cloud arrangements with third parties and integrating cloud-based systems with existing systems which are also top priority.
But when asked if data security will remain challenging to cloud adoption five years from now, 57 of the executives agreed that it would not.
USEReady finds that basic data integration issues do need to be resolved before real attempts are made in incorporating big data. Otherwise the existing demands will constantly pull the technology resources back – to fixing the existing issues.
Almost half of the executives surveyed stated they would not increase spending on Big Data (Being defined as a form of analysis that involves encoding vast amounts of information for insights that aren’t detectable at smaller scales).
Instead, the most-commonly chosen area of focus by 44% of the executives, was to better integrate the company’s existing information systems.
As the year progresses, various organizations are talking about Big Data, more specifically in the retail and marketing sectors, but Big Data is costly to bring in, and somewhat less understood. These are two barriers that are keeping companies from embracing the technology. Companies worry that by bringing in the technology they will inspire “Big Brother” concerns among their employees and customers that everything they’re doing is being watched.
Executives did not expect Big Data to become such a big discussion in analysis gathering, but choosing to focus on their core analytical capabilities instead. A recent survey indicates that only seven of the executives said companies should use Big Data as a substitute for older analytical techniques, and 25 said Big Data is not yet valuable enough to justify its costs.
The most-commonly cited obstacle to cloud technology is security. Cloud computing needs the storage of data on Internet-connected servers, often for a fee, so that it can be accessed from anywhere around the world.
Half of the executives within the survey said security was among their top three concerns. When considering cloud technology, executives feared that they were losing control of that data. With that being said, these challenges involve exiting cloud arrangements with third parties and integrating cloud-based systems with existing systems which are also top priority.
But when asked if data security will remain challenging to cloud adoption five years from now, 57 of the executives agreed that it would not.
USEReady finds that basic data integration issues do need to be resolved before real attempts are made in incorporating big data. Otherwise the existing demands will constantly pull the technology resources back – to fixing the existing issues.
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