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Big Data: The Issue Having the Biggest Impact on Businesses
What trends are now having the biggest impact on businesses?
CXO’s at more than 1000 European companies list the following three things as having the biggest impact on them:
- Big Data
- Managing multiple vendors
- Addressing emerging high-growth economies like China
The response was collected by Ricoh and presented as part of their report entitled “A New Perspective: Ricoh Document Governance Index 2012“. The report is accompanied by a nice InfoGraphic that summarizes their findings.
But of these three factors, Big Data is by far and away the most pressing. In fact, big Data was cited by 91 percent of those surveyed as having the biggest impact. And, interestingly, the report notes that data generated from the other two items are also contributors to the amount of data that businesses now need to contend with.
Other interesting statistics from the Ricoh report includes:
- 20 percent of business struggle to share information efficiently
- 40 percent say that their business processes are no more efficient compared to three years ago
- 25 percent say that information security is worse than three years ago
- 43 percent say that they have implemented a document process management strategy, just 4 percent more than three years ago
- 64 percent say that they now target their processes to be closely aligned with business goals, compared to just 15 percent from three years ago
Clearly the goal or the Ricoh report is to build a case for why businesses should try to better manage both their data and their information. The Ricoh reports cites a CFO from a UK Financial Services company as saying that “You can’t be doing business with people who are sitting thousands of miles away without having a right, visible and clear framework around it, without having the right classification and communication and without the right practices and information.”
