Many, if not all companies, want to get started in the Big Data arena, but it is not as simple as throwing together a plan and deploying it. NewVantage Partners, the premier consultancy focused on guiding business and technology executives in the creation of strategic solutions that harness the power of their data, conducted the Big Data Executive Survey. Pymts.com discusses the firm’s results in “Big Data Executive Survey Unveils the State of Big Data Initiatives, Challenges, and Investments Across Fortune 1000 Organizations.”
An astounding 85% have a plan in place or planned, but more than half said they did not have the capability to handle a Big Data plan. Seventy percent of the companies without the proper talent plan on hiring appropriate staff.
Overall, the findings were positive:
‘Based on our survey findings, we believe that most organizations seek more thoughtful strategies as well as the right talent and organizational structure to fulfill the promise and potential of Big Data,’ said Paul Barth, co-founder and managing partner of NewVantage Partners. ‘Thus far, many of them are still working hard to develop the requisite skills, processes and systems to create coherent, productive data strategies – in their ongoing quest to uncover the right data that enables them to mitigate risk and make bold moves in the future.’
Big Data is looking like it will pave the way to the future, hopefully to greater profits. One hint for those wishing to initiate a Big Data plan — use a powerful search application such as LucidWorks.
Whitney Grace, October 5, 2012