Avanade, a business technology solutions and managed services provider, announced the results of a global survey of more than 500 business executives and IT leaders, which reveals the investments companies are making to manage big data are paying off. Eighty-four percent of respondents believe big data helps them make better business decisions. And 73 percent of companies have already used data to increase revenue by growing existing revenue streams (57 percent) or creating entirely new sources of revenue (43 percent).
Beyond tangible business value, evidence shows big data has become pervasive – more employees in businesses have greater access to increased technology options for managing and analyzing data. The majority of companies surveyed (57 percent) noted that in just the last 12 months, more technology options became available to help analyze and manage data. More importantly, research shows that companies are investing in this technology, with almost every company surveyed (91 percent) reporting the use of tools to manage and analyze data today.
“Big data has gained a top spot on the agenda of business leaders for the real value it has begun to create,” said Tyson Hartman, Avanade, global CTO and corporate vice president. “Today, the technologies and skills used to leverage big data for business purposes have reached a tipping point – new types of data supported by better tools to leverage it, enable companies to find financial and competitive benefits from their data.”