Companies’ increased customer focus, demand for business growth and expansion and the need to keep up with competitors are all fueling big data adoption, according to industry sources. In a February 2015 study conducted by Vanson Bourne for CA Technologies, improving the customer experience (60%) and the need to get new customers (54%) were the leading factors driving the need for big data projects, according to IT managers worldwide. Increasing top-line revenue growth (46%), entering new markets (42%), keeping up with the competition (41%) and outpacing competitors (34%) followed.
May 2015 polling by 2nd Watch found similar results. Here, US IT and business execs cited identifying new areas for business growth or product strategy (33%) as well as areas for operational efficiency and cost savings (28%) as the top drivers for big data plans, followed by better understanding customers and improving the customer experience (25%).
However, challenges related to skill sets and poor technology arise when it comes to actually implementing big data. Among 2nd Watch respondents, data quality issues, outdated infrastructure and a lack of internal expertise were the biggest hurdles to execution. Read the rest at eMarketer.