Every organisation must become a big data-driven business to succeed and survive in the modern market, according to a new report.
Capgemini and EMC Corporation published the results of a survey yesterday (March 10th) showing that almost two-thirds (64 per cent) of enterprises believe big data is “changing traditional business boundaries” and “enabling new providers to move into their industry”.
Four-fifths (80 per cent) added they were either coping with fresh competition from data-centric startups, or expected to witness this trend in the immediate future.
As such, the researchers concluded that mastering big data “is now key not just to success, but also to business survival”.
More than half (54 per cent) of the 1,000 organisations polled said they intend to invest more in big data over the next three years than in their entire existence to date.
A further 61 per cent described big data as a driver of revenues in its own right, while 43 per cent reported having restructured in order to explore new opportunities for advanced analytics.
In addition, 36 per cent of organisations said they sometimes circumvented IT teams in order to implement their big data strategies.
“We have reached an inflection point in the market,” remarked John Brahim, head of Capgemini’s Insights & Data global practice. “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.”
According to Constellation Research analyst Ray Wang, organisations must build new business models, technologies and processes to accommodate this transformation. He pointed out that 90 per cent of the data in the world has come into existence since 2012.
This rapid rate of information growth, coupled with increased business dependence on big data, will make investment in modern platforms and tools to manage key data “a matter of urgency”, the researchers concluded.
Kroll Ontrack provides software for MS Exchange and SharePoint, solutions for permanent data erasure, services for tape archives as well as data recovery.