Amid the market disruption being driven by big data, two-third of organisations (65 per cent) have acknowledged that they are at risk of becoming uncompetitive unless they embrace new data analytics solutions, said outsourcing service provider Capgemini
According to Big & Fast Data: The rise of Insight-Driven Business, 64 per cent of enterprises surveyed, big data is changing traditional business boundaries and is enabling new providers to move into their industry. More than one fourth (27 per cent) of the firms reported competition from new players in other industries, while a majority (53 per cent) expects to face rivalry from data-enabled start-ups.
John Brahim, head of Capgemini’s insights and data global practice, said, “We have reached an inflection point in the market. Information is at the heart of every business decision and companies need to fully embrace the opportunities of big data or risk losing out in the market place. Our research has identified that while some organisations are using big data to reduce cost and improve existing performance, others are using it to drive into new markets and ultimately to monetise data in its own right. Every enterprise must now define a path to become an insight-driven business.
“We have designed a core set of guidelines and created underlying frameworks that will help enterprises to go on the journey to get insights at the point of action everywhere. We believe it is this approach that will ultimately be a game-changer for enterprises and entire industries.”
The report surveyed over 1,000 senior decision makers across different industries to understand the need and enterprise readiness for big data adoption.
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