Lack of budget, skills impedes big data analytics

Lack of in-house skills and adequate tools to address data quality issues are some of the main barriers to the adoption of big data by local organisations.

This is according to a recent online Big Data Survey conducted by ITWeb. The survey found that most organisations are good at collecting and storing data, but few have the skills and the tools needed to extract, analyse and use data to create lasting value for the business.

Complexity of technologies (16%), legacy systems (14%) and cost of investment (15%) were cited as other barriers to the adoption of big data.

Around 14% of respondents said they do not have a data strategy in place. Of those who said they do have one, 46% admitted that it was not comprehensive.

Experts point out that despite the benefits of having a comprehensive data strategy; few organisations have actually developed a structured plan to improve the access, sharing, and usage of their data. Most firms have comprehensive plans for applications, development tools, platforms, and even storage, but there are few initiatives that ensure that data is managed as a business asset.

A comprehensive enterprise data strategy leverages a variety of data to support the company’s overall business strategy.

With more companies understanding the importance of big data as a useful source for gaining insights, the survey revealed big data analysis (49%) saw the highest growth in demand over the last year, with big data storage (41%) ranking in second and internal big data collection (40%) in third place.

The results were evenly split when the respondents were asked what they see as the main benefits of big data analysis, with 14% citing reduced risk, and another 14% choosing more efficient operations.

Mervin Miemoukanda, senior research analyst for software, IDC Middle East, Africa, and Turkey, believes while more local organisations are realising the potential of big data and analytics, they are still grappling with some challenges.