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Stat Watch: Big Data Analytics

Posted on 9.30.2014

Big data is far more than just a buzzword; it is a thriving industry growing at a remarkable pace. Unfortunately, most enterprises are struggling to keep up.

In fact, research from Experian Data Quality reveals that 94 percent of companies believe their customer and prospect data might be inaccurate in some way, while 83 percent of companies are struggling to link customer information across channels (wsm.co/bigdataprobs). Plus, enterprises that adopt mobile analytics are left with an even greater amount of data-driven insights, and the majority of this data is being wasted if enterprises aren’t leveraging it to identify business opportunities and predict probable outcomes.

“While most organizations have started big data programs and are investing in analytics, the majority of companies still struggle to collect accurate data and link customer information across channels to develop reliable data sources,” said Thomas Schutz, senior vice president and general manager for Experian Data Quality. “This lack of insight creates operational challenges as well as issues with business intelligence, personalization and customer engagement.”

Some enterprises, however, are finally beginning to take big data seriously, with Oracle research revealing that 36 percent plan to invest in data discovery tools to improve operations and 38 percent wanting to find new opportunities to better equip their marketing teams in 2014. Yet another way that enterprises are looking to tame the big analytics beast is by hiring data scientists, one of the most highly sought-after professions in tech today. In fact, Gartner predicts that by 2015 there will be 4.4 million IT jobs globally to support big data.

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