While some businesses have been slow or reluctant to adopt big data practices, namely the forensic analysis of huge data sets to investigate patterns or trends, those who have embraced the concept are reaping some notable benefits. Almost 7 in 10 big data adopters believe that it helps them to make better strategic decisions, while more than half of companies using big data say that it has helped them to better control operational processes and obtain a better understanding of their customers.
With the huge churns of data now being made available to businesses, it makes perfect sense to adopt big data practices to process it all into easily understandable results and actionable recommendations. However, some companies are slow to warm to the concept, citing reasons such as a lack of technical or analytical know-how, concerns over data privacy and the cost of implementation for their indifference towards big data adoption.
This infographic from Colourfast draws upon a study from the Business Application Research Center to outline the chief benefits of big data, companies’ main reasons for using it and other companies’ reservations about adopting it. Check it out below!