Big data impacting business in North America
Big Data has improved businesses' performance, on average, by 26 percent and that the impact will grow to 41 percent over the next three years
New York City, June 12, 2012 — Big Data has improved businesses' performance, on average, by 26 percent and that the impact will grow to 41 percent over the next three years. The majority of companies (58 percent) claim they will make a bigger investment in Big Data over the next three years.
This is according to the Capgemini report, "The Deciding Factor: Big Data & Decision making." The report reveals that nine out of ten business leaders believe data is now the fourth factor of production, as fundamental to business as land, labor, and capital.
The study, which surveyed more than 600 C-level executives and senior management and IT leaders worldwide, indicates that approximately two-thirds of 168 North American executives surveyed believe Big Data will be an issue over the next five years, and one that needs to be addressed so the organization can make informed decisions.
They consider their companies as data-driven, reporting that the collection and analysis of data underpins their firm's business strategy and day-to-day decision-making.
Fifty-five percent are already making management decisions based on "hard analytic information." Additionally, 44 percent indicated that the increasing volume of data collected by their organization (from both internal and external sources) has slowed down decision-making, but the vast majority (84 percent) feel the larger issue is being able to analyze and act on it in real-time.