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
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
04/05/2024
NEW YORK As the Asian Pacific American Heritage Month kicks off in May, Nielsen has released an extensive new report diving into their media habits with data sh...
04/05/2024
PHILADELPHIA As National Military Appreciation Month gets underway, Comcast has announced several new initiatives to help veterans, service members, and their f...
04/05/2024
WASHINGTON, D.C. Federal Communications Commission chairwoman Jessica Rosenworcel has announced a tentative agenda for the May Open Commission Meeting scheduled...
04/05/2024
The Broadband Forum has announced major enhancements to key 5G convergence standards that the group said will help advance next-generation applications, improve...
04/05/2024
Spotify Wrapped Campaign Spot Graded With DaVinci Resolve Studio
Brie Clayton May 3, 2024
0 Comments
Blackmagic Design today announced that Colorist M...
04/05/2024
Three Boston Conservatory at Berklee Alums Nominated for Tony Awards An additional eight alums and two current students performed in nominated productions.
...
03/05/2024
An innovative learning tool to help media and civil society better understand ho...
03/05/2024
PARK CITY, UTAH - JANUARY 21: (L-R) Actors K stutis Cic nas and Greta Grinevi i t , Director Marija Kavtaradze and Producer Marija Razgute attend the 2023 Sunda...
03/05/2024
If you aren't familiar with Danny Ocean's music, it's only a matter ...
03/05/2024
Spotify has an unwavering commitment to supporting emerging artists across all genres, to helping them launch and thrive in their careers, and to connecting the...
03/05/2024
Como uno de los sonidos de mayor expansi n en el mundo, la M sica Mexicana va m ...
03/05/2024
As one of the fastest-growing sounds worldwide, M sica Mexicana is more than jus...
03/05/2024
NEW YORK FuboTV reported that it lost 110,000 subs in Q1 2024 but it exceeded its guidance for the quarter with double digit year-over-year increases across key...
03/05/2024
Only 3 Weeks Left To Enter The Creative Industries Most Award
Brie Clayton May 3, 2024
0 Comments
Creativepool is giving a last call to the creative i...
03/05/2024
WePlay Studios Transforms the Future of Live Event Storytelling with AJA Gear
Brie Clayton May 3, 2024
0 Comments
By 2032, the esports market is expec...
03/05/2024
WASHINGTON Shannon Bream, Fox News Sunday anchor and chief legal correspondent, sat for a keynote chat at The Business of TV News, with Tom Umstead, senior co...
03/05/2024
WASHINGTON Asked how important is local news, Martha Raddatz, who has covered foreign conflicts for decades and moderated presidential debates for ABC News, s...
03/05/2024
Sony Pictures and Apollo Global Management have made a $26 billion cash offer fo...
03/05/2024
CBS announced its 2024-2025 primetime schedule, which features the new dramas NCIS: Origins, Matlock and Watson, and new comedies Poppa's House and Georgie ...
03/05/2024
Sports-focused streaming service Fubo said it reduced its red ink in the first quarter, despite losing 110,000 subscribers since the end of the year....
03/05/2024
Walmart is reportedly about to release a new 4K streaming box/smart speaker hybrid device for Google TV that could retail for as low as $50, according to a repo...
03/05/2024
Enhancements to its Delivery Workspace solution provide increased content delivery robustness and security
By Matthew Corrigan
Published: May 3, 2024
Enha...
03/05/2024
According to reports, if the bid is successful, Sony would be the significant majority shareholder of the new private company
By Jenny Priestley
Published: M...
03/05/2024
Located in Manchesters Spinningfields district, the course aims to equip students with the skills, knowledge and industry insight for a career in the creative s...
03/05/2024
Lightbridge has created a new Cine Reflect Lighting System kit, dedicated to enabling artistic lighting with consideration of today's productivity practical...
03/05/2024
Broadcast media systems integrator BeckTV and Lawo worked together on a large-scale AES67 build of radio control rooms at KPBS, San Diego's NPR and PBS memb...
03/05/2024
Raleigh, NC, April 12, 2024 SmallHD announces PageOS 6, a powerful software update free for owners of SmallHD monitors, featuring increased functionality, exp...
03/05/2024
SmallHD announces the Quantum 32 a new 31.5 OLED monitor designed to provide reference HDR/SDR images for post-production final color grading, as well as cri...
03/05/2024
By 2032, the esports market is expected to grow to $9.29 billion, bolstered by a global player count and fan following that both continue to climb. The 2023 Lea...
03/05/2024
Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced that the 11th edition of the Amagi Global FAST Rep...
03/05/2024
Riedel Communications today announced that Westdeutscher Rundfunk (WDR) is relying on a media and intercom network based on Riedel technology for the renewal of...
03/05/2024
Broadpeak , a leading provider of content delivery network (CDN) and video streaming solutions for content providers and pay-TV operators worldwide, announced t...
03/05/2024
Media technology innovator Limecraft will exhibit the latest updates to its online platform on stand G79 at the 15-16 May 2024 Media Production & Technology Sho...
03/05/2024
Audio interface specialist Prism Sound is partnering with console manufacturer Solid State Logic, professional monitor manufacturer PMC and acoustic panel and d...
03/05/2024
Intinor, Sweden's leading developer of products and solutions for high-quality video over the internet, is set to join forces with its UK partner Zest Techn...
03/05/2024
NAKIVO Inc., a fast-growing software company dedicated to protecting physical, virtual, cloud, and SaaS environments, announced its Q1 2024 financial results to...
03/05/2024
Hiltron Communications announces an addition to its range of satellite communication products and systems: a field-upgradable motorisation kit specifically desi...
03/05/2024
Visit LiveU at Stand D30
With this year an exceptional one for major sporting events alongside multiple, key elections, the power and flexibility of LiveU'...
03/05/2024
Agile Content, the leader in the development of technology and solutions for the provision of television services over the Internet, announces Koldo Unanue as i...
03/05/2024
Eight co-signers representing streaming services, pay TV operators and public interest groups have sent a letter to Congressional leaders urging their Committee...
03/05/2024
BOSTON Brightcove has announced that it has implemented Amazon Q Business, a new generative AI assistant on Amazon Web Services (AWS)....
03/05/2024
NEW YORK CBS has declared that it will finish the 2023-24 season as Americas Most-Watched Network in primetime for the 16th consecutive season....
03/05/2024
A new survey indicates that U.S. businesses and consumers had an overall positive attitude towards their technology spending plans in the first quarter of 2024,...
03/05/2024
Sony and Apollo Global Management have sent an offer letter to Paramount Global's board of directors making an $26 billion all cash offer for Paramount Glob...
03/05/2024
EMG / Gravity Media has appointed Charlie Cubbon chief operating officer (COO) and Jamie Hindhaugh regional CEO for the U.K., U.S., Australia and the Middle Eas...
03/05/2024
Final 2024 Season Games to Air Saturdays on WRAL at 10:30am in May, Championship on June 1
Taping for the final episodes of the 2024 season of WRAL-TV's Br...
03/05/2024
Estrella MediaCo said it is expanding its connected TV portfolio by launching three new channels with Curiosity that will first appear on Samsung TV Plus....
Big Data: Big Potential, Big Priority Cisco global study finds Big Data tied to competitive advantage; drives network traffic, IT budgets, cloud adoption 
