Big Data Study: Implications and Recommendations
In the preceding sections, we described the landscape of Big Data initiatives in large
companies in the world’s four largest economic regions. In 12 industries, the data reflects
a hotbed of activity in more than half the big companies in these regions. The median
spending is not at all a trivial amount: $10 million per company. And our survey and
interviews show that many companies are spending far more than that — e.g., GE (which
says it has committed $1 billion over the next four years). In fact, 23 (4%) of the 643
companies we surveyed said they spent at least $250 million on Big Data in 2012.
With this as the backdrop, it’s no surprise that many companies have been asking us
fundamental questions about Big Data and how best to organize for it. We hear four
- Which industries should be investing more in Big Data?
- Where should companies focus their Big Data resources?
- What kinds of data should they collect and analyze to get the highest returns on their spending?
- What is the optimal way to organize Big Data activities?
In this section, we address these questions based on this research and our client
experience. We draw especially on the survey data that compares “leaders” (>50% ROI in 2012) and “laggards” (25% or lower ROI).