Posts Tagged ‘market research’
In advance of IBM’s massive event next week in Las Vegas featuring all things information management, Information On Demand 2012, IBM and the Saïd Business School at the University of Oxford today released a study on Big Data.
The headline: Most Big Data initiatives currently being deployed by organizations are aimed at improving the customer experience, yet less than half of the organizations involved in active Big Data initiatives are currently collecting and analyzing external sources of data, like social media.
One reason: Many organizations are struggling to address and manage the uncertainty inherent within certain types of data, such as the weather, the economy, or the sentiment and truthfulness of people expressed on social networks.
Another? Social media and other external data sources are being underutilized due to the skills gap. Having the advanced capabilities required to analyze unstructured data — data that does not fit in traditional databases such as text, sensor data, geospatial data, audio, images and video — as well as streaming data remains a major challenge for most organizations.
The new report, entitled “Analytics: The real-world use of Big Data,” is based on a global survey of 1,144 business and IT professionals from 95 countries and 26 industries. The report provides a global snapshot of how organizations today view Big Data, how they are building essential capabilities to tackle Big Data and to what extent they are currently engaged in using Big Data to benefit their business.
Only 25 percent of the survey respondents say they have the required capabilities to analyze highly unstructured data — a major inhibitor to getting the most value from Big Data.
The increasing business opportunities and benefits of Big Data are clear. Nearly two-thirds (63 percent) of the survey respondents report that using information, including Big Data, and analytics is creating a competitive advantage for their organizations. This is a 70 percent increase from the 37 percent who cited a competitive advantage in a 2010 IBM study.
Big Data Drivers and Adoption
In addition to customer-centric outcomes, which half (49 percent) of the respondents identified as a top priority, early applications of Big Data are addressing other functional objectives.
Nearly one-fifth (18 percent) cited optimizing operations as a primary objective. Other Big Data applications are focused on risk and financial management (15 percent), enabling new business models (14 percent) and employee collaboration (4 percent).
Three-quarters (76 percent) of the respondents are currently engaged in Big Data development efforts, but the report confirms that the majority (47 percent) are still in the early planning stages.
However, 28 percent are developing pilot projects or have already implemented two or more Big Data solutions at scale. Nearly one quarter (24 percent) of the respondents have not initiated Big Data activities, and are still studying how Big Data will benefit their organizations.
Sources of Big Data
More than half of the survey respondents reported internal data as the primary source of Big Data within their organizations. This suggests that companies are taking a pragmatic approach to Big Data, and also that there is tremendous untapped value still locked away in these internal systems.
Internal data is the most mature, well-understood data available to organizations. The data has been collected, integrated, structured and standardized through years of enterprise resource planning, master data management, business intelligence and other related work.
By applying analytics, internal data extracted from customer transactions, interactions, events and emails can provide valuable insights.
Big Data Capabilities
Today, the majority of organizations engaged in Big Data activities start with analyzing structured data using core analytics capabilities, such as query and reporting (91 percent) and data mining (77 percent).
Two-thirds (67 percent) report using predictive modeling skills.
But Big Data also requires the capability to analyze semi-structured and unstructured data, including a variety of data types that may be entirely new for many organizations.
In more than half of the active Big Data efforts, respondents reported using advanced capabilities designed to analyze text in its natural state, such as the transcripts of call center conversations.
These analytics include the ability to interpret and understand the nuances of language, such as sentiment, slang and intentions. Such data can help companies, like a bank or telco provider, understand the current mood of a customer and gain valuable insights that can be immediately used to drive customer management strategies.
Update: Also check out the new IBM Big Data Hub, a compendium of videos, blog posts, podcasts, white papers, and other useful assets centering on this big topic!
So just how big IS big data?
This is your opportunity to find out, and, to contribute.
IBM’s Institute for Business Value is conducting a study on big data, and we’d like to hear from you.
The idea behind the study is simple: To develop a fact-based analysis of big data activities in the global marketplace.
Through this research, IBM hopes to help the marketplace better understand some key tenets behind the big data movement: To gain an organizational view of big data and organizations’ primary objectives for investments in this burgeoning area. To understand better the drivers and leaders of big data activities. To understand the current and planned state of big data activities, and patterns that suggest best practices of big data implementations.
The survey is slated to run through June 29, 2012, and takes approximately 10-15 minutes per respondent.
All responses will be viewed in the aggregate, and individual responses will not be disclosed beyond the survey analysis team without expression permission of the respondent.
The audience for the survey: Global business executives, management and analysts, as well as IT professionals, across all levels of the organizational hierarchy (from C-suite to data analysts).
Once the fielding is completed, the survey results will be analyzed by a wide team of subject matter experts from within IBM, along with a team of faculty from a globally recognized university.
This data will be combined with interviews and case studies to develop a final reporting of findings and big data benchmarks to be published in October of this year.
So, in short, this is your opportunity to be part of the benchmarks that will define the big data era, one that you can use to compare with your own organization.
All participants will receive a copy of the final study, and will also be eligible to download the IBM e-book entitled “Understanding Big Data.”
Here’s the link if you’d like to be part of this exciting big data discovery!
I’m back from IBM Impact 2012…but my brain is still processing all the information I took in through all the interviews Scott and I conducted for ImpactTV and for all the sessions I attended…and I won’t mention all the cocktails in the evenings where I learned SO much from my industry peers.
I’ll be putting together a recap post of some of the major announcements, and I’ve still yet to transcribe my interview with Walter Isaacson, but first, I wanted to highlight an important new study from IBM on the security front.
For those of you who follow the Turbo blog, you know the issue of security (particularly cybersecurity) is one I take very seriously and that I follow closely, partially because of my longstanding interest in the topic, and partially because I recognize we live in an imperfect world using imperfect technology, created and used by imperfect humans.
But the promise and hope for security, fallible though it may sometimes be, is a worthy aspiration. There are ideas, assets, and often even lives at risk, and the more we move up the stack into an intellectual capital driven global economy, the more there is at stake and the more that will be needed to protect.
So, that’s a long way of saying expect to be hearing even more from me on this important topic.
Chief Security Officers: “We’ve Got Our CEO’s Attention”
To that end, now for the new information security study results. The new IBM study reveals a clear evolution in information security organizations and their leaders, with 25 percent of security chiefs surveyed shifting from a tech focus to one of a more strategic business leadership role.
In this first study of senior security executives, the IBM Center For Applied Insights interviewed more than 130 security leaders globally and discovered three types of leaders based on breach preparedness and overall security maturity.
Representing about a quarter of those interviewed, the “Influencer” senior security executives typically influenced business strategies of their firms and were more confident and prepared than their peers—the “Protectors” and “Responders.”
Overall, all security leaders today are under intense pressure, charged with protecting some of their firm’s most valuable assets – money, customer data, intellectual property and brand.
Nearly two-thirds of Chief Information Security Executives (CISOs) surveyed say their senior executives are paying more attention to security today than they were two years ago, with a series of high-profile hacking and data breaches convincing them of the key role that security has to play in the modern enterprise.
Emerging Security Issues: Mobile And A More Holistic Approach
More than half of respondents cited mobile security as a primary technology concern over the next two years. Nearly two-thirds of respondents expect information security spend to increase over the next two years and of those, 87 percent expect double-digit increases.
Rather than just reactively responding to security incidents, the CISO’s role is shifting more towards intelligent and holistic risk management– from fire-fighting to anticipating and mitigating fires before they start. Several characteristics emerged as notable features among the mature security practices of “Influencers” in a variety of organizations:
- Security seen as a business (versus technology) imperative: One of the chief attributes of a leading organization is having the attention of business leaders and their boards. Security is not an ad hoc topic, but rather a regular part of business discussions and, increasingly, the culture. In fact, 60 percent of the advanced organizations named security as a regular boardroom topic, compared to only 22 percent of the least advanced organizations. These leaders understand the need for more pervasive risk awareness – and are far more focused on enterprise-wide education, collaboration and communications. Forward-thinking security organizations are more likely to establish a security steering committee to encourage systemic approaches to security issues that span legal, business operations, finance, and human resources. Sixty-eight percent of advanced organizations had a risk committee, versus only 26percent in the least advanced group.
- Use of data-driven decision making and measurement: Leading organizations are twice as likely to use metrics to monitor progress, the assessment showed (59 percent v. 26 percent). Tracking user awareness, employee education, the ability to deal with future threats, and the integration of new technologies can help create a risk-aware culture. And automated monitoring of standardized metrics allows CISOs to dedicate more time to focusing on broader, more systemic risks.
- Shared budgetary responsibility with the C-suite: The assessment showed that within most organizations, CIOs typically have control over the information security budget. However, among highly ranked organizations, investment authority lies with business leaders more often. In the most advanced organizations, CEOs were just as likely as CIOs to be steering information security budgets. Lower ranking organizations often lacked a dedicated budget line item altogether, indicating a more tactical, fragmented approach to security. Seventy-one percent of advanced organizations had a dedicated security budget line item compared to 27 percent of the least mature group.
Recommendations to Evolve the Security Role in an Enterprise
To create a more confident and capable security organization, IBM recognizes that security leaders must construct an action plan based on their current capabilities and most pressing needs. The report offers prescriptive advice from its findings on how organizations can move forward based on their current maturity level.
For example, those “Responders” in the earliest stage of security maturity can move beyond their tactical focus by establishing a dedicated security leadership role (like a CISO); assembling a security and risk committee measuring progress; and automating routine security processes to devote more time and resources to security innovation.
About the Assessment
The IBM Center for Applied Insights study, “Finding a strategic voice: Insights from the 2012 IBM Chief Information Security Officer Assessment,” included organizations spanning a broad range of industries and seven countries.
During the first quarter of 2012, the Center conducted double-blind interviews with 138 senior business and IT executives responsible for information security in their enterprises. Nearly 20 percent of the respondents lead information security in enterprises with more than 10,000 employees; 55 percent are in enterprises with 1,000 to 9,999 employees.
Click here to access the full study.