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Big Data: Potential for Federal Agencies to save a half Trillion Dollars
Big Data has the potential to shave off 14 percent of current federal agency budgets, which would result in an annual savings of nearly $500 billion. That’s the result of a study by MeriTalk and sponsored by EMC: The Smarter Uncle Sam: The Big Data Forecast. In fact, 70 percent of Federal IT executives say that Big Data is mission critical to their organizations.
In what areas can Big Data help drive efficiencies for government agencies? The MeriTalk survey of federal IT professionals identified the following areas:
- Improved processes (51 percent)
- Enhanced Security (44 percent)
- Improve ability to Identify Trends (31 percent)
Rich Campbell, Chief Technologist of EMC Federal, said that “Big Data is transforming government. Each agency needs to first identify how Big Data can support their mission objectives, then assess the infrastructure, the savings opportunity, and start with a pilot project. There is enormous opportunity ahead for government to apply Big and Fast Data to manage data growth, gain new insights from data, and innovate in ways that weren’t possible before due to technology limitations. It will enable agencies to be more productive, work smarter and be more agile – to keep up with the pace of change.”
Steve O’Keeffe, Founder of MeriTalk, said that “Big Data is different from other IT initiatives – because it’s not an IT initiative. If assuming the same behavior and expecting a different outcome is the definition of insanity, Big Data may provide the common-sense therapy we need to make better decisions in government.”
