NewVantage Partners have over the course of the last four years which has found that Big Data has quickly become the part and parcel of the day to day activities of most of Fortune 1000 companies.
The opinion of the crucial decision makers within organizations was taken into account. Financial led the way in investing in Big Date infrastructure. Also of note is the fact in the field of life sciences too usage of big data is increasing by the day.
Other findings of the survey are:
- In 2012 just a small group of 5% of firms had in place a system of Big Data analytics which in 2015 rose to 63%.
- In 2012 only 24% of firms claimed to have expectations to invest $10 million or more in Big Data by the year 2017 which rose to 63% in the year 2015.
- At present a majority of 54% of companies have in place a Chief Data Officer which rose from 12% in the year 2012.
- In 2012 only 21% of firms reported that their firms held Big Data to be critically important which rose to 70% in the last year.
During the starting year of the survey the executives of organizations were struggling to come in terms to properly perceive the impact and opportunity that Big Data might potentially hold. But today it has become the standard norm for corporate organizations and the focus is rapidly shifting to results produces and the business capabilities enabled by the same.
There is also a need to develop the appropriate metrics. While indeed the majority of Fortune 1000 companies’ implemented capabilities in Big Data, few have demonstrated the business value derived from the investments over time. Organizations with responsible executives for data who report to a Chief Financial Officer are often more likely to have developed financial measurements that are precise.
Innovation remains a source of much promise in the field of Big Data and innovation opportunities need to be identified. There is a dearth of success stories in innovation in things that are enabled by Big Data. Till now its success has largely been limited to savings on cost of operations or being able to analyze data sets that are larger or more diverse. Innovation in Big Data led applications need to be funded more and its practitioners need to exemplify imagination as well as boldness.
Businesses and the analytics industry needs to prepare for both business and cultural change as a new generations take their place in the workplace who have grown up on tools Like R Programming and Hadoop. There is great need for organizations to realize that Big Data is more about cultural change rather than solely technical change.
If you too want a piece of the bigger pie of Big Data as a practitioner, then you should try to train yourself for a promising career through proper Big Data Courses in Delhi as conducted by a leading institute like DexLab Analytics.
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