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Study shows Big Data driving market disruption, leaving many organizations fearing irrelevance

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Study shows Big Data driving market disruption, leaving many organizations fearing irrelevance

"With 90%of all the data in the world created in the last two years and 80 billion sensors activated by 2020, organizations must build for Big Data business models and insight economies.”

"With 90%of all the data in the world created in the last two years and 80 billion sensors activated by 2020, organizations must build for Big Data business models and insight economies.”

A global report by consultancy Capgemini and EMC Corporation reveals that amid the market disruption being driven by Big Data, two-thirds of organizations (65%) acknowledge they are at risk of becoming uncompetitive unless they embrace new data analytics solutions.

"That mastering the management and analysis of Big Data is now key - not just to success but also to business survival."

According to 64% of enterprises surveyed, Big Data is changing traditional business boundaries and is enabling new providers to move into their industry. More than one quarter reported competition from new players in other industries, while a majority expect to face rivalry from data-enabled start-ups. This suggests that mastering the management and analysis of Big Data is now key - not just to success but also to business survival.

Data-driven insights are fundamental to business performance
There is widespread recognition that the data that organizations hold is becoming a core component of market value. This is also reflected in the boardroom, with almost a third of companies (32%) having already introduced or in the process of introducing new C-level roles for data management. Further findings from the report show:

  • 54% say that investment in Big Data over the next three years will outstrip past investment;
  • 61% acknowledge that Big Data is now a driver of revenues in its own right and is becoming as valuable to their businesses as their existing products and services;
  • 43% of organizations already have or are currently restructuring in order to exploit new Big Data opportunities;
  • 36% of respondents say that due to the strategic importance of Big Data, they have had to circumvent IT teams to carry out the necessary data analytics required to gain business insights;
  • More than half of respondents reported that developing fast insights from data was hampered by limitations in the IT development process:
  • Accessing Big Data faster is where C-suite executives see the most value – 77% state that decision makers increasingly require data in real-time.

John Brahim, Head of Capgemini Insights & Data global practice, said that "we have reached an inflection point in the market. Information is at the heart of every business decision, and companies need to fully embrace the opportunities of Big Data or risk losing out in the market place. Our research has identified that while some organizations are using Big Data to reduce cost and improve existing performance, others are using it to drive into new markets and ultimately to monetize data in its own right. Every enterprise must now define a path to become an insight-driven business."

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