Despite all the hype and potential, most companies are essentially stalled in the preparation phase of their big data efforts.
A new study from OpTier (Making Big Data Analytics Fast & Easy) reveals that few enterprises are able to apply any level of useful analytics to big data for competitive advantage because of the time and costs associated with traditional approaches. But it needn't be that way. According to OpTier President Andy Wild, what's missing today from Big Data analytics is context.
"Today's leading companies are struggling to take advantage of the volume and variety of data available within the four walls of the enterprise” said Wild. “By rethinking the way they analyze Big Data and capturing transactions that are already in context, CIOs can fundamentally change the economics and process of analyzing Big Data - saving 50 percent of time spent and cost."
The OpTier study revealed that companies are not gaining business advantages from their big data because it is distributed across multiple silos and lacks the content and uniformity necessary to allow analysts to leverage it quickly. OpTier’s research indicates that when companies can apply context to their data however (e.g. understanding the interrelationships between various data sets), things (good things) begin to happen particularly when you have an efficient process in place.