Decision Imperative #5 (Enterprise Data)

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Massive amounts of data are being produced and stored, but less than 20% of the data is analyzed, and IT organizations cannot keep pace with the speed of data growth. Data monetization and business insights — core to effectiveness and efficiency — directly depend on the transformation of data into information and insight. To meet these new requirements, IDC suggests that data should be managed with a similar diligence that the business applies to financial or physical assets. Two important aspects to this management are a pan-enterprise strategy for collecting and analyzing information, and a framework that supports the consistent acquisition, storage, movement, transformation, reporting, and analysis of existing, traditional, and new forms of data.

A recent survey conducted by IDC of on Big Data Analytics highlighted that innovation tends to derived by organizations that

  1. Have an annual enterprise wide budget supplemented with ad hoc funding for Big Data & Analytics projects
  2. Deliver ROI for a typical Big Data project deployment in less than 6 months
  3. Show significantly higher adoption levels of advanced analytics technologies ( with a particular focus on predictive and real-time capabilities)
IDC's CIO Agenda Top 10 Decision Imperatives 0-12 Organizational Impact Time (Months) to Mainstream Note: The size of the bubble indicates complexity/cost to address. 12-24 12+ Singledepartment Multipledepartments Companywide StrategicArchitecture CompetitiveStrategies PrematureObsolescence EnterpriseData 5 3 1 2 4 CIOPriorities
Source: IDC's Enterprise IT Transformation Maturity Model Benchmark Study, May 2014 n=1810 Tend to deliver ROI for a typical Big Data Project Deployment in less than 6 months 51% of Big Data Innovatorsdeliver ROI for a typicalBig Data project deploymentin less than 6 monthscompared to 32%of other respondents 0% 50% 5% 10% 15% 20% 25% 30% 35% 40% 45% 3 months or less 3 to 6 months 6 to 12 months over 12 months undetermined Big Data Innovators Big Data Innovators Others

IT Impact

  1. Data must be managed as a critical asset to drive competitive advantage
  2. Data management requires the same rigor applied to financial or physical assets in order to contribute to the broader business transformation
  3. The need to deliver increased value via predictive and real-time capabilities accelerates

Guidance

  1. Create new responsibilities and frameworks in concert with business owners and with security in order to drive business agility
  2. Feed analytics with a data architecture that integrates existing, new, and "big" data within a consistent framework
  3. Identify new opportunities to create new revenue streams linked to real-time and predictive capabilities

IDC Prediction

By 2018, 30% of CIOs of Global Organizations Will Have Rolled Out a Pan-Enterprise Data and Analytics Strategy