Big Data In Practice: From Buzz Word to Business Benefits [Infographic]

Big Data In Practice From Buzz Word To Business Benefits thumb

We have been hearing about the term big data for a long time. It is often talked about in terms of the future and experts tell us the impact it will have but rarely focus on the current situation. The study by the Business Application Research Center showed that 40% of companies use big data analytics worldwide and those who quantify their gains from big data analytics reported an 8% increase in revenues and a 10% reduction in costs.

The study also revealed that in companies where big data analytics initiatives were unsuccessful it was because of inadequate analytical know-how. Companies simply do not have the sufficient skills across departments to implement big data analytics effectively.

Another important factor appears to be the role of senior management and they play a major role in encouraging big data initiatives in companies. However, it is also important to have people implementing big data analytic policies at all levels of your business.

Check out this infographic from Colourfast for more information on how big data analytics is impacting companies around the world.

Big Data In Practice From Buzz Word To Business Benefits

Big data may have become the buzz word in the industry a couple of years ago but its meaning has been evolving rapidly. Mostly it reflects on how it is put in practice by the businesses. What do you think of big data? Tell us about it in the comments below. Don’t forget to share this post with all. 

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Chris Landry