The Death of Business Intelligence

IT leaders believe in the future of big data, but barriers remain

Posted in Business, Business Intelligence by neilwilson1984 on October 24, 2013

UK firms are increasingly coming to see the benefits of big data as a part of their operation, with 75 per cent now saying it will have a role to play in improving their operation.

Results from a survey carried out by EMC showed that three-quarters of decision makers feel positive about the use of big data – which allows them to analyse large amounts of information to make better informed business decisions.

However, despite the positive sentiment from those in the IT sector, there is still a degree of reluctance in the UK to take on the technology.

Some 32 per cent of businesses surveyed said they have no current plans to implement its use, with 48 per cent stating the main barrier to their uptake is the fact there is a lack of solid anecdotal evidence showing the impact it can have.

This is in spite of the fact that many still have a clear idea of what they either expect or believe the technology can have to offer them.

Of those surveyed, 37 per cent said they believed it could help them mitigate against the risk of cyber attacks, while another 37 per cent said it had the potential to allow them to make “transformative” decisions that will make big changes to their operation.

Another 21 per cent focused on the sort of specific important choices it can help business leaders make, with an eye on keeping themselves ahead of the competition.

With so many stating the benefits then, and three-quarters believing it has such an ability to transform the way they operate, why are so many reluctant to do so?

It appears that the main reason is financial. With big data still essentially in its infancy, and so many firms looking to remain low risk in terms of financial hardship – the UK is still slowly recovering economically from the financial crisis that struck the market in 2009 – taking a chance on what many see as an unproven entity is still worrying.

With more than a third citing a lack of evidence of return on investment as one of their biggest concerns, perhaps the onus is on companies creating big data software to provide case studies and examples of the specific ways companies can benefit.

There are other issues that need to be overcome for firms looking to make use of big data as well, however, with one of the main hurdles being the lack of skilled analysts ready to step into roles.

A recent study published by Gartner, for example, stated that the worldwide IT market will face a 75 per cent shortfall in the number of people required in these roles over the next few years.

Tesco, which is one of the biggest IT recruiters in the country, also highlighted this point. It said that even though it currently faces relatively few issues with finding people for such roles, were the uptick in big data demand to continue, there could be a considerable shortage in suitable applicants.

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