{"id":8638,"date":"2018-08-21T07:00:20","date_gmt":"2018-08-21T15:00:20","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=8638"},"modified":"2018-06-20T09:41:51","modified_gmt":"2018-06-20T17:41:51","slug":"big-data-successes-shine-bright-but-the-technology-is-littered-with-failures","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/big-data-successes-shine-bright-but-the-technology-is-littered-with-failures\/","title":{"rendered":"Big Data: Successes Shine Bright, but the Technology is Littered with Failures"},"content":{"rendered":"

In 2011, McKinsey predicted that<\/a> “Big data will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus\u2014as long as the right policies and enablers are in place.”\u00a0 It wasn’t just McKinsey that saw big promise in Big Data, many analysts and business executives bought into the idea.<\/p>\n

Seven years later, in 2018, McKinsey still leads their report on the state of Big Data with the same statement: “Big data will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus\u2014as long as the right policies and enablers are in place.”<\/p>\n

Make no mistake, Big Data has had considerable success, but the idea that it’s easy to jump on, implement, and reap quick rewards from isn’t an accurate one.\u00a0 It takes vision, skills and patience.\u00a0 Gartner reports that 85 percent of Big Data projects failed in 2017<\/a>.\u00a0 Similarly, an advisory and consulting company’s survey in the UK found<\/a> that 70 percent of big data projects failed.<\/p>\n

Problems that are sticking up the success of these projects include:<\/p>\n