IT services provider Avanade Inc., a subsidiary of Accenture LLP, has announced the results of its global survey, "The Business Impact of Big Data," which examines executive attitudes about how enterprises are managing the exponential growth of...
November 17, 2010
IT services provider Avanade Inc., a subsidiary of Accenture LLP, has announced the results of its global survey, “The Business Impact of Big Data,” which examines executive attitudes about how enterprises are managing the exponential growth of data.
The survey, conducted by Kelton Research, reveals that big data is creating very real business challenges for executives.
In fact, more than half (56%) of C-level executives, IT decision makers and business unit leaders report they are overwhelmed by the amount of data their company manages.
This number increases to 65% from Canadian respondents. Many also report they are often delayed in making important decisions as a result of too much information. An estimated 46% report they have made an inaccurate business decision as a result of bad or outdated data, and more than half of Canadian respondents agreed.
“There is a pressing need for companies to evaluate how data is affecting their business as suppliers, customers, and employees all contribute to the vast amounts of information which is creating real business challenges,” said Dean Olmstead, senior vice president, Canada Operating Unit at Avanade. “Companies need to establish a data management process through the entire data lifecycle and turn data from information into actionable business insights.”
Despite the challenges created by the proliferation of data, executives report they desire more data and they want it faster, the study found.
“Our research confirms what we hear from our customers related to managing the data challenge,” said Tyson Hartman, global chief technology officer at Avanade. “Executives appear to be grasping for faster access to data to help them cope with information overload. While speed is important, context is absolutely essential in order to understand the full scope of the data to make the right business decisions at the right time.”