Monday, October 23, 2017

Data is NOW a major business asset for any decision maker

Need to adopt data strategies and put into work projects to rip the benefits associated with data analytics has never been so high.

The importance of data to a business has driven interest in projects associated with big data across CIO layer.

That is according to Talend’s latest survey which has found that big data, analytics and governance are at the top of the list of organisations’ priorities for 2017.

Of the 169 people interviewed face-to-face at Talend Connect Paris, eight in ten said they are planning to carry out big data projects this year, nearly twice as much as in 2016.

The findings show real-time analytics, metadata management, and self-service data access make up nearly 70% of the projects IT leaders intend to execute in 2017, as they get their data in shape to pursue artificial intelligence (AI) and machine learning in the future.

Twenty-six percent of respondents said that real-time analytics are their top priority for 2017.

Metadata management was a close second at 20%, and self-service data preparation was a priority for 18% of respondents.

While AI/Machine learning and Internet of Things (IoT) are on the radar of many CIOs, they rank much lower in importance, garnering only 10% and 5% of votes respectively.

Twenty-seven percent of those questioned said the most valuable impact big data has made on their organisation is helping improve internal processes.

This was followed by improved customer service (20%), reducing operating costs (17%), and creating new revenue streams (17%).

However, challenges and barriers still exist with 35% of respondents saying that their biggest challenge to becoming data-driven was the relationship between IT and the business.

Ashley Stirrup, Talend’s chief marketing officer, said: “Instead, they understand the importance of blending the right people, processes, and technologies needed to increase the strategic value of their data.

“These leaders create a culture that views data as a strategic asset that should be infused into every step of a decision-making process. This discipline delivers the business agility needed to remain competitive in today’s marketplace.”