IBM's consulting division, in partnership with the University of Oxford, conducted the study “Data analysis: The real use of Big Data in the world”. The survey had 1,144 respondents from 95 countries, including 65 companies in Brazil, with the aim of identifying how Big Data is being applied within organizations.
The survey points out that 63% of respondents noted that the use of data analysis has created a competitive advantage for their organizations. Compared to a similar study carried out in 2010, the increase was 70% (at the time, 37% saw this scenario). “For the initiative to be successful, professionals directly linked to the business and marketing area must work together with the IT team. First, the business requirements must be identified to then adapt infrastructure, data sources and quantitative analysis to support the project”, emphasizes Sergio Loza, director of Smarter Analytics for Latin America at IBM. In the country, the growth was more significant: 72% of companies have created competitive advantage through analysis, representing an increase of 90% compared to two years ago.
Most Brazilian companies are already moving towards a more mature level of Big Data actions: 51% of them are defining the strategy and planning the activities that will be put into practice and 24% are already in the implementation phase of the pilot project. The remaining 25% have yet to start operations. “Although ¼ of the companies in Brazil are still studying the concept, we can say that the market is maturing, with corporations seeing the benefits of investing in data analysis, mapping the planning and starting the implementation of large projects”, highlights the executive.
Data from social media were remembered by only 2% of the Brazilian respondents, showing the lack of knowledge on the part of organizations of how social networks can impact the business, taking into account the fact that Brazil is one of the leaders in the use of media social. Less than half of companies said they collect and analyze social profiles. Most prefer to focus their efforts on existing internal sources.
“Organizations are committed to improving the consumer experience and understanding their preferences and behavior, but for this to actually happen, it is also necessary to interact and analyze it in the online environment”, he explains. Social networks provide the consumer with greater power of choice, which makes him an influencer through his comments, positive or negative, about a particular product, service and/or brand.
Another reason for the underuse of social media and other external sources is the lack of available analytical skills. Having the advanced analytical capabilities needed to analyze unstructured data – data that is not stored in traditional databases, such as text, sensors, geospatial data, audio, images and videos – as well as data in motion, is still a major challenge. for organizations. Only 25% of survey respondents said they had the capabilities needed to analyze highly unstructured data – which turns out to be a major inhibitor to realizing value from Big Data.
Study recommendations
Commit early efforts to customer-focused results – It is essential that organizations focus their Big Data initiatives on areas that can provide value to the business. For many industries that means starting with analyzing customer data to enable them to offer better service and care by understanding their needs and anticipating future behavior.
Develop an enterprise-wide Big Data plan – the plan must encompass the entire business strategy in order to assist decision-making. Therefore, the key challenges for its implementation must be identified, in addition to defining processes for its application in each area of the organization.
Start with existing data to achieve short-term results – to achieve short-term results it is essential that companies adopt a pragmatic approach. The most logical place to start analyzing information is within the company itself. This internal view is the first step towards creating a dynamic experience that will support a larger Big Data program that addresses more complex sources and data.
Build analytics capabilities based on business priorities – organizations are experiencing a growing variety of analytics tools while at the same time suffering from a shortage of analytics skills. As a result, companies will have to invest in both modern tools and qualified professionals. In this context, new careers should emerge, which combine analytical, functional and IT skills.
Create a corporate success story based on measurable results – For initiatives to succeed, it is important that a comprehensive and workable strategy is developed, with a solid roadmap and active involvement of business executives. Among the benefits pointed out by companies that are already adopting Big Data actions are smarter, more agile and efficient decision-making.
The survey points out that 63% of respondents noted that the use of data analysis has created a competitive advantage for their organizations. Compared to a similar study carried out in 2010, the increase was 70% (at the time, 37% saw this scenario). “For the initiative to be successful, professionals directly linked to the business and marketing area must work together with the IT team. First, the business requirements must be identified to then adapt infrastructure, data sources and quantitative analysis to support the project”, emphasizes Sergio Loza, director of Smarter Analytics for Latin America at IBM. In the country, the growth was more significant: 72% of companies have created competitive advantage through analysis, representing an increase of 90% compared to two years ago.
Most Brazilian companies are already moving towards a more mature level of Big Data actions: 51% of them are defining the strategy and planning the activities that will be put into practice and 24% are already in the implementation phase of the pilot project. The remaining 25% have yet to start operations. “Although ¼ of the companies in Brazil are still studying the concept, we can say that the market is maturing, with corporations seeing the benefits of investing in data analysis, mapping the planning and starting the implementation of large projects”, highlights the executive.
Data from social media were remembered by only 2% of the Brazilian respondents, showing the lack of knowledge on the part of organizations of how social networks can impact the business, taking into account the fact that Brazil is one of the leaders in the use of media social. Less than half of companies said they collect and analyze social profiles. Most prefer to focus their efforts on existing internal sources.
“Organizations are committed to improving the consumer experience and understanding their preferences and behavior, but for this to actually happen, it is also necessary to interact and analyze it in the online environment”, he explains. Social networks provide the consumer with greater power of choice, which makes him an influencer through his comments, positive or negative, about a particular product, service and/or brand.
Another reason for the underuse of social media and other external sources is the lack of available analytical skills. Having the advanced analytical capabilities needed to analyze unstructured data – data that is not stored in traditional databases, such as text, sensors, geospatial data, audio, images and videos – as well as data in motion, is still a major challenge. for organizations. Only 25% of survey respondents said they had the capabilities needed to analyze highly unstructured data – which turns out to be a major inhibitor to realizing value from Big Data.
Study recommendations
Commit early efforts to customer-focused results – It is essential that organizations focus their Big Data initiatives on areas that can provide value to the business. For many industries that means starting with analyzing customer data to enable them to offer better service and care by understanding their needs and anticipating future behavior.
Develop an enterprise-wide Big Data plan – the plan must encompass the entire business strategy in order to assist decision-making. Therefore, the key challenges for its implementation must be identified, in addition to defining processes for its application in each area of the organization.
Start with existing data to achieve short-term results – to achieve short-term results it is essential that companies adopt a pragmatic approach. The most logical place to start analyzing information is within the company itself. This internal view is the first step towards creating a dynamic experience that will support a larger Big Data program that addresses more complex sources and data.
Build analytics capabilities based on business priorities – organizations are experiencing a growing variety of analytics tools while at the same time suffering from a shortage of analytics skills. As a result, companies will have to invest in both modern tools and qualified professionals. In this context, new careers should emerge, which combine analytical, functional and IT skills.
Create a corporate success story based on measurable results – For initiatives to succeed, it is important that a comprehensive and workable strategy is developed, with a solid roadmap and active involvement of business executives. Among the benefits pointed out by companies that are already adopting Big Data actions are smarter, more agile and efficient decision-making.
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