Are big data analytics investments yielding RoI?

Businessman touching financial dashboard with key performance

MUMBAI, INDIA: Investments on big data analytics have started yielding return on investments (RoI).

According to the findings of the survey by Teradata, McKinsey and Forbes Insights on the state of big data analytics, majority of respondents reported not just significant investment in big data analytics but a significant return on that investment.

About two-thirds of respondents said that big data and analytics initiatives have had a significant, measurable impact on revenues.

Overall, about 90 percent of organizations reported medium to high levels of investment on big data analytics, and about a third called their investments very significant across all categories of investment.

“It’s exciting to see that companies using big data technologies are realizing the impact that’s been promised for some time,” said Chris Twogood, Vice President, Product and Services Marketing, Teradata. “Companies aren’t just committed to investing in big data analytics; most companies are seeing a material impact as a result of that investment. One out of five survey respondents (21 percent) agreed that big data analytics is the single most important path to competitive advantage while 38 percent called it a top five issue.”

Twogood said that deploying big data analytics through an analytical ecosystem including a data warehouse along with open source technology provides the integration across multiple disparate systems that further enhance competitive advantage.

Sunil Jose, Managing Director, Teradata India, added, “We’re seeing a growing demand for big data analytics from banking, telecommunications, retail and e-commerce segments as they realize the direct correlation the technology has on their immediate and long term business objectives impacting both, bottom-line and top-line growth.”

This news taken from http://ciol.com

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Kalyan Banga224 Posts

I am Kalyan Banga, a Post Graduate in Business Analytics from Indian Institute of Management (IIM) Calcutta, a premier management institute, ranked best B-School in Asia in FT Masters management global rankings. I have spent 14 years in field of Research & Analytics.

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