A study by The Economist Intelligence Unit commissioned by Teradata in which executives from different companies around the world have participated, reveals that one of the factors that prevent the success of Big Data projects in companies are the different visions that CEOs have on them and other lower level managers. Have you noticed these major obstacles in your business??
Disconnection in expectations: the germ of the failure of Big Data initiatives
The study found an important disconnect between the expectations that some were shown to have and those of others, marked by a greater optimism from CEOs, in the face of a much more pessimistic opinion on the part of the lower management.
The survey found that being successful in working with big data involves overcoming a Big perception problem among senior and middle managers about the ease of access to data., circumstance that the firm considers serious obstacle to the use of Big Datasince it goes unnoticed and, Thus, not addressed.
Specifically, the work highlights two key findings:
– The significant difference between unrealistic expectations CEOs have easy access to data. In the survey, the 47 percent of them said all employees had access to the data they need, compared to the 27 percent of lower-level managers.
– The 43 percent of CEOs are convinced that important data is captured and made available to those who need it, and that is also done in real time., compared to just the 29 percent of the rest of the respondents.
According to Chris Twogood, Vice President of Marketing Products and Services, Teradata, These findings reveal that companies face a lot of problems if they really want to.. gain a competitive advantage from the data.
Big Data gives a greater competitive advantage
The study also concludes that good practices are not encouraged of employees. While decision-making from Big Data is more likely to be more profitable than your competitors, doing so does not typically generate financial rewards for data workers. In figures, only one in four organizations compensated for this type of practice.
At the same time, the study highlights the difficulty of using the data despite the investment in its collection. But nevertheless, access to data and the ability to process it and, definitely, turning them into valuable information are the main obstacle to these efforts to bear fruit. When it comes to delivering important business data, it does “a bad job”, according to him 57 percent of respondents.
In this study on Big Data Projects Participated 362 respondents from top and middle management of North American companies, Asia Pacific and Europe, specifically the 15% of senior executives or presidents, the 29% of executives in other C-level management functions, the 25% of directors, executive directors or heads of business units, and the 31 percent were vice presidents, vice presidents or directors.
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