Nearly every large organization today wants to take advantage of big data analytics to inform decisions and gain a competitive edge. For example, the 2019 NewVantage Big Data and AI Executive Survey Report found that nearly 92% of the Fortune 500 executives they surveyed are increasing their investments in big data and AI, and 55% are spending more than $50 million.
But while nearly 62% of Fortune 500 executives say they are seeing measurable results, only 31% say they have a data-driven organization and just 28% have created a data culture. A related survey from Interana may help explain this disparity. Interana surveyed 85 business leaders from large organizations in March. They found that: a significant percentage of organizations gain insights from big data exclusively through pre-defined dashboards; and posing iterative questions to the data is difficult, due to the delay introduced by needing to formulate new queries; involve technical specialists; extract, transform and load different data sets (ETL); and wait for results.
Author: Chris Preimesberger