Knowledge is Power - Reaping the Benefits of Big Data

The amount of data streaming into businesses has been growing exponentially for years, and there is no sign that this explosive growth will slow down in the near future. Savvy organizations who can leverage this data to their advantage will gain many benefits for their businesses - deeper insights in customer behavior, competitor tracking, operational efficiencies, and many more.

However, the question for most companies is - how are we going to manage and utilize this data to our advantage? Recently, we carried out a survey jointly with the Outsourcing Center to find out how organizations are managing and analyzing the proliferating data, and how they are leveraging big data for the benefit of their businesses. While not a comprehensive picture of how these organizations are approaching big data, the survey results identify some general trends in this emerging area:

Finding 1: Big data platforms are essential for a majority of organizations to manage future big data challenges;

Finding 2: When it comes to big data, organizations find it difficult to analyze data sufficiently, handle external data and report data in real time;

Finding 3: Most organizations still do not have a formal strategy in place to deal with and leverage big data;

Finding 4: Becoming more operationally efficient is considered the biggest benefit of implementing big data strategy; and

Finding 5: Lack of measurable ROI is the biggest roadblock to implementing a big data strategy.

For more details on our findings from the survey, read our article, 'Reaping the Rewards of Big Data.'

How is your organization leveraging big data? What challenges did you face and how have you overcome them? Do write in with your comments - as always, we'd love to hear from you!

About the Author

K. R. Sanjiv is the Chief Technology Officer for Wipro's Global IT Business. The CTO office is responsible for establishing the company's technical vision and strategy and also leading various aspects of the company's future technology development. It includes incubation of the emerging technologies, creating an eco-system for the innovations in these spaces, IP management and creating industry and academic alliances.

Prior to this role, he was Global Head of Analytics & Information Management business unit. He carried P&L responsibility, strategy and operations of this unit globally reporting to CEO. The Analytics & Information Management helped customers derive valuable insights out of integrated information by bringing together the combined expertise of Advanced Analytics, Business Intelligence, Performance Management and Information Management.

Sanjiv has over 25 years of enterprise IT experience, including consulting, application and technology development spanning multiple industry segments and diverse technology areas.

Since joining Wipro in 1989, Sanjiv has been involved in defining enterprise architectures for organizations that included technical models, transformation program definitions and governance models. He has designed OLTP mission critical systems such as screen-based trading systems for stock exchanges, surveillance systems and order routing systems for brokerage houses. He has spearheaded due diligence exercises in M&A situations for customers and also managed large project implementations in a global delivery model.

Sanjiv has spoken at leading CxO summits, industry and academic conferences on varied topics related to Business Technology. He holds a bachelor's degree from Birla Institute of Technology and Science, Pilani.

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