by Angela Guess
Oracle has released the results of a new survey, “From Overload to Impact: An Industry Scorecard on Big Data Business Challenges.” The company surveyed 333 C-level executives from the US and Canada across eleven different industries in order to “determine the pain points they face regarding managing the deluge of data coming into their organizations and how well they are using that information to drive growth.”
According to the study, the data deluge is upon us: “Ninety-four percent of C-level executives say their organization is collecting and managing more business information today than two years ago, by an average of 86 percent more. Respondents note they see the biggest data growth areas coming from customer information (48 percent), operations (34 percent) and sales and marketing (33 percent).”
The survey also identified room for improvement: “Executives say they are not prepared to handle the increasing amount of data they face. Twenty-nine percent of executives give their organization a ‘D’ or ‘F’ in preparedness to manage the data deluge, and 93 percent believe their organization is losing revenue opportunities — representing on average, 14 percent of revenue — by not being able to fully leverage the information they collect. On average, private-sector organizations with revenues of $1 billion or more say they are losing approximately 13 percent of their annual revenue as a result of not being able to fully leverage their information. That translates to $130 million each year for a $1 billion organization. Only 8 percent of executives give their organization an ‘A’ in preparedness.”
photo credit: Oracle
