Big Data adoption can help APAC Companies to increase Revenue by 25%: Survey

As per its latest survey titled “The Hype and the Hope: The Road to Big Data Adoption in Asia-Pacific”, Hitachi Data Systems Corporation (HDS) has revealed that almost half of the firms surveyed in Asia-Pacific believe that big data can improve revenue by 25% or more, with HDS projecting a potential US$250-billion revenue increase among the more than 500 companies surveyed.
 
Results of the survey show that Asia-Pacific firms have had limited success so far in implementing big data practices. While a third say they are well advanced, more than half say they have made only limited progress. Some 80% of frontline employees said that they believe improved access to data is critical, with only 19% able to access the data they need.
 
Neville Vincent, Senior Vice-President & General Manager, Asia-Pacific, HDS, stated, Today, most organizations have a limited data-capital ‘budget’ that prevents them from realizing the full potential of the information they hold. Staff members long for more information and realize its revenue potential, but lack access to it. It is time for C-level executives to ensure cultural alignment throughout their organizations, and to treat data like a capital asset that can bring a significant impact to their business.
 
Vincent added, The future success of organizations will depend on business owners being able to define their own big data strategies and on IT serving up the needed intelligence.
 
Despite the lack of progress, respondents believe in the ability of big data to improve their businesses: more than 70% say that it can deliver gains in productivity, profitability, and innovation.
 
Nearly two-fifths say their company’s big data strategy has not been well communicated.