The Decision Maker

Waiting with the Majority

Posted by Aaron Wang on Apr 7, 2013 9:12:19 AM

How far along is your organization in implementing a Big Data strategy? If you have not yet implemented, tested, or planned in this area you are in the majority. The results of a December 2012 global study by SAS showed almost three-fourths of organizations surveyed had not even started to a plan a Big Data initiative.

When asked why they had not yet moved ahead on Big Data, the responses suggested two main symptoms: a lack of understanding or perceived internal constraints.

Don’t know enough about Big Data 21%

Don’t understand the benefits 15%

Lack of business support 9%

Poor data quality in current systems 8%

Lack of executive commitment 6%

Cost/financial resources 6%

There continues to be increasing evidence that data-driven decision making is improving performance and creating competitive advantage for many organizations. The Early Adopters have been reaping these benefits for some time.

It is arguable, however, that the Big Data idea has now crossed over into the territory of the Early Majority on the innovation adoption curve. If your organization is in the majority of non-adopters, it is time to ask some important questions:

  1. What steps can be taken to better understand Big Data and its implications for the organization?
  2. After becoming better informed, what steps need to be planned and executed to create a successful Big Data strategy?

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Topics: Big Data, Credit Unions, Data Analytics