Big Data is a Big Deal
Is Your Network Ready?
Big data is a big deal. Not only is it redefining business management, marketing and operations principles, big data is also transforming network performance requirements. Seven out of ten of enterprises and more than half of small and medium businesses have already deployed or plan to deploy big data projects.1 According to management consulting firm McKinsey & Company, “the use of big data is becoming a crucial way for leading companies to outperform their peers.”2 Indeed, research finds that a majority of companies with a strategy focused on collecting and analyzing their most valuable data best their competitors financially.3
So what exactly is big data? As the name implies, big data involves collecting, storing and analyzing huge quantities of business information from a range of devices and applications. This includes real-time and historical data from customer relationship, sales, manufacturing, supply chain and point-of-sale management systems, as well as social media, website and other network usage information. Data can be collected from an array of devices, including servers, PCs, smartphones, tablets, video cameras, sensors, smart meters and other connected machines.
IT professionals say the average amount of data being managed within their organization is expected to increase by 76 percent within the next 12 – 18 months.4 By skillfully surfing this data tsunami, advanced analytics solutions can deliver powerful business intelligence. More than three out of four companies report that their current big data and analytics projects are delivering quantified benefits that either meet or exceed expectations.5 Big data analytics help organizations fine-tune product and service offerings, enable more personalized interactions with customers and prospects, create efficiencies in manufacturing, better detect fraud and improve regulatory compliance.
A recent survey finds that 84 percent of companies say having more data has helped them make better business decisions. This trend is driving the bottom line as 73 percent of organizations say leveraging data has increased revenue from existing or new sources.6
Nearly half of IT executives say their company CEO is directly supporting or sponsoring their efforts, highlighting the visibility and strategic importance of big data initiatives.7 Be sure your network is ready for the spotlight.
1 IDG, Enterprise Big Data Study, 2014.
2 Ivey Business Journal, “Why Big Data Is the New Competitive Advantage,” July/August 2012.
3 SAS, “Big Data: Harnessing a Game-Changing Asset,” Economist Intelligence Unit Limited, 2011.
4 IDG, Enterprise Big Data Study, 2014.
5 IDC, “Building a Datacenter Infrastructure to Support Your Big Data Plans,” January 2014.
6 Wakefield Research, “Global Survey: Is Big Data Producing Big Returns?” June 2012.
7 IDG, Enterprise Big Data Study, 2014.