In the past few years, Big Data technologies have played a keen role in handling enormous data across various fields. Now, it will also help companies in improving their decision making and take out-of box, instant decisions.
According to a recent infographic created by IDG in co-operation with T-Systems, in the coming years managers will be poised to challenges such as Redesigning products vs increase spend on marketing or investment in new technologies vs Issue of new equity and much more.
As per Gartner predictions, by 2015, 4.4 Mn jobs will be created around big data with organizations forced to adapt to the upcoming changes in the decision ecosystem.
Wherein, finance managers found the most valueof big data in Budgeting, forecasting and planning, HR teams with capabilities of predictive analytics are 4 times more likely to be respected for their data driven decision making.
Apart from these, of the surveyed companies, following facts came to the notice:
- 60% companies that made use of big data for marketing campaigns exceeded their goals
- Major business development units such as sales, marketing, R&D accounts for 42% of the total big data spending
- 78% logistic managers expect highest ROI on big data of all departments followed by financial department with 69%.
From the sources of Gartner, Forbes and TCS, here is a step by step path to ensure better decision making with big data.
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