Tata Big Data Study – Key Findings
Key findings from a global Big Data Study by Tata Consultancy Services include: Big split in spending, with a minority of companies spending big while most companies spend very little, and biggest returns for leaders came from places that laggards did not value as much.
For this Big Data Study, Tata Consultancy Services (TCS) surveyed 1,217 companies in nine countries in four regions of the world (US, Europe, Asia-Pacific and Latin America) in late December 2012 and January 2013. Of these companies, a little more than half (643) said they had undertaken Big Data initiatives in 2012.
Here are 10 key findings:
- About half of the firms surveyed are using Big Data, and many of them projected big returns for 2012
- Big split in spending on Big Data, with a minority of companies spending massive amounts and a larger number spending very little
- Investments are geared toward generating and maintaining revenue.
- Logistics and finance expect the greatest ROI, although sales and marketing have a bigger share (30%) of the Big Data budget
- The biggest challenges to getting business value from Big Data are as much cultural as they are technological.
- Nearly half the data (49%) is unstructured (text), while 51% is structured. Also, about 70% of the data is from internal sources.
- The biggest projected 2012 Big Data returns for leaders came from places that laggards did not value as much: improving customers offline experience and location-based marketing.
- Companies that do more business on the Internet spend more on Big Data and project greater ROI.
- Monitoring how customers use their products to detect product and design flaws is seen as a critical application for Big Data
- Organizing a core unit of Big Data analysts in a separate function appears to be important to success.
Access the complete study at sites.tcs.com/big-data-study/