According to new research from Unravel Data, the application performance management firm, three-quarters of businesses expect their big data stack to drive profitable business applications by the end of 2019. But only 12% are seeing this value at the moment.
Despite 84% of the business leaders surveyed claiming their that their big data projects usually deliver on expectations, only 17% currently rate the performance of their big data stack as ‘optimal’. There are stark differences between how managers and senior teams see their big data stacks: 13% of VPs, directors and C-suite members report their stack only meets half of its KPIs, but more than double the number of managers (29%) say the same.
The study also found that most businesses are not yet using big data applications to grow their businesses; instead, they see protection and compliance as the most worthwhile goals. The top four most profitable and effective uses of big data currently, according to business leaders, are cyber security intelligence (42%); risk, regulatory, compliance reporting (41%); predictive analytics for preventative maintenance (35%); and fraud detection and prevention (35%).
“Most organisations have high hopes for what big data applications can do for them – and rightly so,” said Kunal Agarwal, CEO, Unravel Data. “But reliable performance is still some way off, which could delay the benefits businesses hunger after. The challenge now is to ensure the big data stack performs reliably and efficiently, so the next generation of applications, across analytics, AI and Machine Learning, can deliver on those aspirations.
“Only then might we see organisations flip their mindset from thinking of big data as fuel for defensive activities, like cyber-security and compliance, to seeing it as a catalyst for business growth.”
The information age: unlocking the power of big data