Big Data Survey Reveals More Tricks Than Treats
Companies investing in Big Data initiatives are waiting 18 to 24 months to see return on their investments (ROI) and only 3% give their enterprise information “Superman” status, according to a recent Halloween-themed survey. The alarming gap in anticipated ROI versus reality is just one horror revealed in the Big Data survey conducted by unified information access (UIA) software firm Attivio.
When asked what Halloween costume best describes their company’s enterprise information, 50% answered “Harry Potter – a rising wizard filled with potential but facing many challenges.”
“Like Pinocchio – well intentioned but prone to telling lies” and “Little Bo Peep – trying to find all the lost sheep,” both received 15% of the responses.
Finally, 16% equate their enterprise information – from databases to text-based human-generated content – to “Frankenstein – misunderstood, tormented, and downright ugly.”
Additional findings include:
- Only 5% say they have no Big Data issues and are as happy as a witch in a broom factory
- 40% complain that they have too many coffins where data goes to die
- 55% admit that combining data and content sources requires a team of mad scientists
Most shockingly, when it comes to ROI, there is a large discrepancy between expectation and reality. When asked how long they are willing to wait for the “ROI cauldron to bubble over with value,” 66% said less than 12 months. Despite this expectation (or vendor promise), 52% have been waiting more than 12 months, with 32% waiting 18-24 months.
“It is incomprehensible that Big Data, or any technology initiative for that matter, would take two years to return value on a company’s investment when it can, and should, happen within the first 90 days,” said Ali Riaz, CEO of Attivio. “One of the reasons for this slow time to value is that traditional approaches to Big Data segregate information in disconnected silos and require costly, time-consuming, and inflexible data modeling in order to integrate them.”
On a promising note, the Attivio Big Data survey found that 38% of respondents maintain a positive outlook and say their ROI trick-or-treat bag is “half full.”