Big Data in decision making

A very recent survey on Big Data from Capgemini titled The Deciding Factor: Big Data & Decision Making caught my attention. Its main focus is on Big Data management and how it influences the decision-making process in the different organizations. I find it interesting because it looks in the “outside-in view that will generate the biggest opportunities for differentiation” in business using the Big Data insights. In short the major findings are:

“The majority of executives believe their organizations to be “data driven”, but doubts persist.”

  • “On average, respondents believe that big data will improve organisational performance by 41% over the next three years.”
  • “Overall, 55% of respondents state that they feel big data management is not viewed strategically at senior levels of their organization.”

“Organisations struggle to make effective use of unstructured data for decision-making.”

  • “Most of the bussiness people are not familiar with the tools used to query unstructured data, such as text analytics and sentiment analysis.”
  • “Two thirds of executives believe that there is not enough of a “big data culture” in their organisation – this is particularly notable across the manufacturing sector.”

“Although unstructured data causes unease, social media are growing in importance.” (used to make descions based on customer activities)

  • “Business activity data and point-of-sale data are considered most valuable across the consumer goods & retail sector.”
  • “40% of respondents believe that they have too much unstructured data to support decision-making.”

“The job of automating decision-making is far from over.”

  • “60% of respondents dispute the proposition that most operational/ tactical decisions that can be automated, have been automated.”

“Organisational silos and a dearth of data specialists are the main obstacles to putting big data to work effectively for decision-making.”

  • “Across all sectors, “organisational silos” are the biggest impediment to using big  data for effective decision-making.”
  • “85% of respondents say the issue is not about volume but the ability to analyse  and  act on the data in real time.”

“Perceived benefits of harnessing big data for decision-making:”

  • “More complete understanding of market conditions and evolving business trends”
  • “Better business investment decisions”
  • “More accurate and precise responses to customer needs”
  • “Consistency of decision making and greater group participation in shared decisions”
  • “Focusing resources more efficiently for optimal returns”
  • “Faster growth of my business (+20% per year)”
  • “Competitive advantage (new data-driven services)”
  • “Common basis—one true starting point for evaluation”
  • “Better risk management”

Of course there is an infinite list of similar white papers from almost every big company:

Big Data is definitely a buzzword that  is here to stay and you will here it more and more in the coming years. So just get used to it ! 🙂

1 thought on “Big Data in decision making

  1. KyvosNo Gravatar

    Great post! Really Big data has a lot of capacity to profit organizations in any kind of industry, ubiquitously in world. it is a useful to decision-making and helpful to improve the financial position of any organization.

    Priyanka jain

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