Evaluating Big Data Projects

In News by Digital ImpactLeave a Comment

 

Earlier this week, Tracey Wallace highlighted the latest items of data news on the blog site Big Data Startups. She discussed ‘Apple Pay’, ‘the right to be forgotten,’ Google’s battle against the European Court of Justice, and one particular point we thought we would highlight; the results of Accenture’s survey on big data satisfaction, which were published this month.

 

According to consulting firm Accenture, which surveyed more than 1,000 executives from large companies, 92% of participants said they are “satisfied with the results” from their big data projects. Furthermore, their research found that 89% rated big data as “very important” or “extremely important” to their businesses’ digital transformation.

 

What makes these results more interesting is the comparison to a previous piece of research conducted by Wikibon. One year ago, Wikibon found that 46% of those surveyed believe their companies are not making the most out of their analytical investments. Though their survey groups will vary from those of Accenture, it highlights a marked change over the past year.

 

Backing up Accenture’s research, Narendra Mulani, Senior Managing Director of Accenture Analytics, explains that “businesses are at a transition point.” He believes that “instead of just talking about the potential results that can be achieved from big data, they are realising actual benefits including increasing revenues, a growing base of loyal customers, and more efficient operations.”

 

If there is a lesson to be learnt for the social sector, it’s not to fall behind the private sector and wait for ‘proof’ of the value of big data, but rather experiment in small-scale projects now. First hand experience of success will no doubt encourage further investment of time and resources into new, more ambitious big data projects.


Many thanks to Tracey Wallace for her roundup of the latest technology and data news. You can read into her additional topics covered in the full article.

To stay up to date with the latest Markets For Good articles and news, sign up to our newsletter here. Make sure that you are also following us on Twitter.

Leave a Comment