The worldwide report "Big Data Payoff: Turning Big Data into Business Value", made in partnership by Capgemini and Informatica, reveals that the companies that have made progress in operationalizing Big Data projects are those that have well-structured governance, a disciplined implementation approach, and engaged executives.
The survey, which included the participation of 200 senior IT and data management executives, showed that less than a third (27%) of Big Data projects are profitable, and that most companies will still have a lot of work to do. maximum return on your investment. The profitability of Big Data depends on who is responsible for the project: the probability of having profitable Big Data projects is twice as high when the chief operating and data officers, not the chiefs of IT, lead them. Even with more than half (52%) stating that their IT directors are responsible for the Big Data strategy, this mission is passing to other executives, such as the operational (20%), technology (16%) and marketing director (16%).
"The main battleground is clearly leadership of initiatives, mirroring what we have already witnessed with digital transformation. However, the study reveals that many companies are still halfway to truly taking advantage of the generated analytics, citing constraints and integration as major challenges for the full operationalization of Big Data", says the leader of Capgemini's global Insights & Data division, John Brahim.
The study results show the growing influence of business executives in Big Data initiatives, in addition to highlighting that the chief operating officer is the one who is leading the most advanced projects. Companies that are profiting from Big Data initiatives also tend to be more efficient at managing data quality and governance and better at enforcing organizational norms:
· 75% of profitable companies responding to the survey said their progress in improving data quality and governance was excellent or very good compared to 50% overall.
· 75% claimed to be excellent or very good in the area of standardization and increasing consistency across the enterprise, versus 47% overall.
"The research results indicate a direct correlation between the use of data quality and governance practices and the generation of positive results in Big Data projects. key pillars of data management: big data integration, quality, governance and security," said Informatica Executive Vice President and Chief Product Officer Amit Walia.
Other important results of the study reveal that:
• More than half of respondents (55%) said that their companies or some departments have regular or ongoing Big Data projects.
• 49% of those who indicated high executive involvement said their Big Data initiatives are profitable, versus only 6% who are not supported by their executives.
• The three most common benefits of Big Data strategies are the ability to make better decisions (37%), collaboration and information sharing (34%), and productivity (33%).
• Among those companies with profitable projects, 51% named the main benefit as greater customer satisfaction and retention.
• In general, budget constraints (44%) and integration (35%) were mentioned as major challenges for those who want to take advantage of the insights generated by Big Data.
• 27% of respondents said their Big Data initiatives are profitable; 45% stated that the results cover investments and 12% indicated that they are losing money (12% believe it is still too early to know).
• Accountability for projects is very different in the US and Europe. In the US, 39% of projects are controlled by the IT director, a percentage that rises to 64% in European companies.
• Strategy execution is usually done by data specialists (30%) and sometimes by IT managers (28%) or database architects (21%).
Knowledge-driven vision: the journey towards data-driven digital transformation
In most Big Data projects, the results only cover the investments or are making a loss. Most companies are not yet focused on knowledge generation. To fully operationalize Big Data, companies need to:
1. Ensure executive support and leadership in Big Data initiatives. Nothing below the top level will be enough to bring about lasting change.
2. Expand the information architecture with the modernization of data storage systems and the integration of new Big Data technologies.
3. Create a collaborative data governance framework that brings organizational agility while incorporating data security and quality.
4. Work with a focus on a dynamic, data-driven culture that engages both executives and employees in the early stages of development, using and improving Big Data solutions.
For the "Big Data Return on Investment" report, Capgemini and Informatica worked with IDG to survey 210 companies with more than 1,000 employees, with the average number of employees at 22,000 across European companies and just under 24,000 in US companies, worldwide in the consumer goods sectors; retail, wholesale and logistics; public services and telecommunications. Interviews were also conducted with senior executives responsible for overseeing Big Data initiatives at leading companies. To access the full report, visit: https://www.capgemini.com/insights-data/data/big-data.
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