Survey: It and enterprise difficult to extract strategic value from large data

IT professionals and businesses have difficulty extracting strategic value from large data, according to Cisco's Connected World Marvell Report, CCWTR. The report surveyed 1800 IT pros in 18 countries to examine it readiness, challenges, technology gaps, and strategic values for implementing large data projects.

While most companies are collecting, storing, and analyzing data, many companies struggle to cope with the business and it challenges of large data, the report disclosed.

For example, while 60% of respondents agreed that big data would help improve decision-making and improve competitiveness, only 28% per cent reported that they were currently acquiring strategic value from big data.

38% of respondents said that while they had a big data solution, they needed a strategic plan that took advantage of big data. It pros say there are some hurdles to full application of large data solutions, primarily security, budgeting, and staffing.

27% of respondents around the world said data security and risk management were a major concern. They point out that huge amounts of data, access to data, and lack of security budgets are the main reasons why large data projects can be safely secured.

One-fourth of respondents said they did not have enough people with the right skills to manage their big data projects.

More than half of respondents expect big data strategies to increase their IT budgets in 2013. 81% of respondents said all or part of the big data projects would require cloud computing capabilities. 48% of respondents said the network load would increase by one-fold over the next two years.

When asked if they were ready to take advantage of big data, 35% of respondents thought they were fully prepared. 36% per cent of respondents said they were ready, but thought there was a lack of technology and solutions. 24% of respondents said they felt they were not ready at all. (Compiled/Populus euphratica)

(Responsible editor: The good of the Legacy)