It’s the responsibility of both IT and marketing to fully harness the power of big data and use it as a hefty competitive advantage, says a new report.
<i>Building Big Data into Business Delivery</i> – produced by CIO Custom Solutions Group in association with EMC – examines how both IT and marketing are responding to the demands for big data utilisation in business.
This survey sought to understand the importance of big data in business today, as well as how well organisations are utilising data sources in operational delivery, management and governance, customer engagement and innovation.
Big data platforms
Traditional data warehousing remains the dominant big data platform, with nearly 50 per cent of respondents using a traditional data warehousing platforms such as Teradata and Greenplum to provide big data analytics to the business. This was followed by traditional online transaction processing data (45 per cent), while 20 per cent are using public cloud.
Big data platform, Hadoop, is only used by 12 per cent of IT leaders responding to the survey.
The rise of data lakes
One in four CIOs sees data lakes as a game changer, as twenty three per cent of CIOs say data lakes are a new way of managing unstructured data repositories, and 15 per cent see them changing the way IT stores and provides access to unstructured data sets across the organisation.
“Data lakes are going to be critical for the success of enterprises,” says EMC CEO, David Goulden. “What companies are realising with new standards like Hadoop or the HDFS storage layer, you can now get all sorts of data about your business and from your business into a common structure – what we call a data lake. And once it’s in that common structure, you can analyse it.”
LOBs are tapping into big data repositories
Currently, nearly one fifth of IT leaders say IT is the only team able to access big data repositories, but there has clearly been an onus on providing better access to the rest of the organisation. Forty per cent now allow all lines of business to tap into big data repositories. In fact, nearly 10 per cent say LOB controls big data projects today, while IT simply stores the data.
Reflecting the rise of dedicated data functions within Australian businesses, 33 per cent of IT leaders say dedicated teams have been created where they access to big data repositories to drive insight.
CIOs and CMOs differ on top inhibitors to big data success, and executive support for embracing big data is still lacking in many organisations.
The fact both CIO and CMO respondents nominated a lack of executive support as a major inhibitor to success again shows that many organisations still have a long way to go before they’re truly embracing big data as a business driver and innovation tool.
The full report, which includes detailed analysis on data’s role in business transformation, levels of success with big data related projects and the roles of IT and marketing in big data utilisation and delivery, was based on two separate surveys late last year. One included 65 Australian CIOs and office of the CIO, and the other of 55 Australian CMOs and office of the CMO. All respondents were from companies with at least 500 employees.
Additional resources on big data include EMC's Succeed with big data, and What CIOs need to know to capitalise on big data lakes.
Also see what CMOs had to say on the matter with this special report.