Big data leaders ‘grow 50% faster than laggards’
Companies that make investing in technologies such as big data analytics a priority are likely to grow around 50 per cent faster than competitors who ignore these solutions.
This is according to newly-released research from Dell, which found there is a strong correlation between the adoption of big data, cloud, mobility and security technologies and better business results. Globally, revenue growth rates for enterprises with such initiatives in place are up to 53 per cent higher than those that do not.
Broken down by category, bring your own device was found to be the most successful technology, with growth rates 53 per cent higher among adopters. This was followed by off-premises cloud computing (51 per cent), big data analytics (50 per cent) and on-premises cloud (46 per cent).
When it comes to big data, the key benefits identified by users are particularly related to boosting competitive advantage and improving customer growth and retention.
The number one positive identified by the survey was improved targeting for marketing efforts, which 41 per cent of respondents highlighted. In joint second was the ability to optimise advertising spending and social media marketing, which were both cited by 37 per cent of decision-makers.
However, the study also revealed some of the biggest barriers that are hindering adoption, with the cost of implementing and managing these technologies a common bugbear for executives.
For organisations that have big data capabilities, but are not yet using them, uncertainty over whether the benefits will be worth the cost was a key concern, with one in five respondents naming this as a worry.
A similar number (18 per cent) said the cost of IT infrastructure to support big data was an issue, while 17 per cent said it is too expensive to outsource their analytics operations.
However, among organisations that are already using big data, infrastructure expenses are the main concern, while among non-IT leaders, the cost of the technology is a secondary worry to security issues.