Big Data: Big Potential, Big Priority

Big Data: Big Potential, Big Priority Cisco global study finds Big Data tied to competitive advantage; drives network traffic, IT budgets, cloud adoption

Potential and Challenges of Big Data

Cisco Infographic: Big Data

Cisco Infographic: Data Flood and the Network

Cisco Infographic:Data in Motion

SAN JOSE, Calif. March 27 , 2013 Enormous amounts of data are being generated daily by smartphones, sensors, video cameras, smart meters, and other connected devices, adding to the huge store of information from traditional sources. This "data avalanche" represents a potential gold mine of insights, but a new study commissioned by Cisco reveals that IT professionals and businesses are challenged to extract strategic value from their data.

The Cisco Connected World Technology Report (CCWTR) surveyed IT professionals across 18 countries to examine the IT readiness, challenges, technology gaps, and strategic value of implementing Big Data projects.

While most companies are collecting, storing and analyzing data, the report reveals that many are struggling with both the business and IT challenges of Big Data. For example, while 60 percent of survey respondents agreed that Big Data will help improve decision making and increase their competitiveness, only 28 percent report they are currently generating strategic value from their data.

Key Findings of the 2012 Cisco Connected World Technology Report (CCWTR)

Big Data, Big Potential, Big Priority

Big Data could provide a competitive edge for those who can take advantage of data in new and creative ways.

Globally, 60 percent of survey respondents said they believe Big Data can help businesses and countries to improve decision making and global competitiveness, with respondents in China (90 percent), Mexico (85 percent), India (82 percent), Brazil (79 percent) and Argentina (78 percent). the most confident in Big Data project benefits.

Over two-thirds of IT managers agree that Big Data will be a strategic priority for their companies in 2013 and over the next five years as well. Scores were highest in Argentina (89 percent), China (86 percent), India (83 percent), Mexico and Poland (both at 78 percent).

Whats needed? More than a third (38 percent) say that although they have a Big Data solution, they need a strategic plan to take advantage of Big Data.

Obstacles to Gaining Insights and Realizing Value

IT managers report several obstacles to adopting Big Data solutions: Security tops the list, followed by budget and staffing.

More than one in four respondents globally (27 percent) said data security and risk management is a major concern. They cited the sheer volume of data, the number of ways to access data, and lack of budget for security as the top reasons why securing data in Big Data projects is such a challenge.

Security concerns were most prevalent in China (45 percent), India (41 percent), the U.S. (36 percent) and Brazil (33 percent).

Together, lack of budget (16 percent) and lack of time to study Big Data (14 percent) are cited by a third of respondents as their main obstacles.

Almost one in four (23 percent) said the lack of enough IT staff (13 percent) or Big Data staff expertise (10 percent) as main issues, especially in Japan (31 percent) and Brazil (30 percent).

Big Data Expected to Spur Investment in IT

More than half of the IT respondents believe Big Data will affect increase their organizations IT budgets now and in the future based on technology, personnel and expertise requirements.

Over half the respondents expect Big Data strategies to increase their IT budgets in 2013.

Nearly three out of five (57 percent) say Big Data will increase their budgets over the next three years.

Over four out of five surveyed (81 percent) said all or some Big Data projects will require cloud computing capabilities. This was especially true in China (78 percent) and India (76 percent).

As a result, cloud adoption may affect the rate of adoption and benefits of Big Data efforts.

Nearly half of IT managers (48 percent) estimated their network loads would double over the next two years, especially respondents in China (68 percent) and Germany (60 percent).

Nearly one in four (23 percent) expect to see network loads triple over the next two years.

Only two out five surveyed (40 percent) report they are ready for a surge in network traffic.

Over one in four (27 percent) say they will need better IT policies and security measures.

Over one in five (21 percent) say they will need more bandwidth.

IT Impact

Big Data expands the role of IT: More strategic, more partnership

Big Data presents an opportunity for IT to add value and create stronger relationships across lines of business that help the bottom line and increase revenue. Big Data projects can help provide opportunities for the IT department to become more of a strategic partner within their organizations.

Not surprisingly, three out of four respondents (73 percent) said that the information technology department will drive their Big Data strategy. However, survey respondents said other lines of business will join IT in Big Data leadership, including: Finance (24 percent), Research and Development (20 percent), Operations (20 percent), Engineering (19 percent), Marketing (15 percent), and Sales (14 percent).

In Argentina, a high percentage (58 percent) said Finance will help drive Big Data.

In China, a large number (61 percent) said Research and Development as well as Engineering (47 percent) will help lead Big Data.

Big Data and IT staffing

Many companies are discovering that Big Data projects need to span multiple lines of business requiring new levels of intercompany collaboration. And while technology is important to Big Data solutions, people are needed with the special skill set and creativity to imagine

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