Everyone has heard about Big Data. The emphasis on this buzzword has sprung up more frequently in many conversations among marketers and IT specialists these days. There are increasingly more vendors out there offering their intelligent services to manage the data for clients and to make meaningful insights out of it.
Despite proven cases of Big Data success, there are still many organisations who are taking a sit-and-wait approach concerning Big Data implementation. This isn't bad news for Big Data solution providers. As cited by analysts, data is growing exponentially every day; in addition, the Big Data industry is set to churn at least millions or billions in revenue for businesses.
In this data-driven marketing survey 2013 released by Teradata, here are some trends gathered from data-centric industries around the world:
- 71% of marketers plan to implement a Big Data analytics solution in the next two years
- Companies with higher revenue usually have on-staff data scientists
- One of the greatest obstacles to implementing data-driven marketing: Lack of funding priority
- 50% of marketers say that marketing and IT are not strategic partners in their company
- Majority of data companies collect to drive marketing is demographic data
- Less than 10% of companies use the data they have in a systematic way
- More marketers in Financial Services (than in Telecoms/Utilities and Healthcare) see Big Data as not being helpful in driving marketing
- Marketers have difficulty calculating ROI on data-driven market spend
This survey very much relates to the global view of companies on Big Data. Look out for the next Big Data infographic with Asia as the focal point. Big Data may still be a new subject in Asia, but there's so much more potential for growth as even more companies here are afraid to use Big Data. The following market leaders who have led the usage of data analytics in decision making will be sharing their tips and tricks in adopting Big Data at Big Data World Asia this September:
- Jones Lang Lasalle Hotels
- Banyan Tree Hotels & Resorts
- Intercontinental Hotel Group
Register here if you'd like to meet and hear from them in person.avnet]