Big data can improve decision making and increase their competitiveness as per 60 percent of survey respondents of Cisco global study.
Despite this recognition of its importance, only 28 percent are currently generating strategic value from their data generated each day by smartphones, sensors, video cameras, smart meters, connected devices, and other traditional sources.
A survey of IT professionals across 18 countries reveal that 90 percent of respondents in China and 82 percent in India believe big data can help businesses and countries to improve decision making and global competitiveness.
Eighty-six percent of IT managers in China and 83 percent in India agree that big data will be a strategic priority for their companies in 2013 and over the next five years.
Thirty-eight percent said that although they have a big data solution, they need a strategic plan to take advantage of big data.
Obstacles to adopting big data solutions
Twenty-seven percent of IT managers find data security and risk management to be a major obstacle to adopting big data solutions.
Security concerns were most prevalent in China (45 percent) and India (41 percent). Twenty-three percent cited the lack of enough IT staff (13 percent) or big data staff expertise (10 percent) as main issues in adoption.
More than half of the respondents expect big data strategies to increase their IT budgets in 2013 and 57 percent expect big data to increase their budgets over the next three years.
Seventy-eight percent of respondents in China and 76 percent in India said all or some big data projects will require cloud computing capabilities.
Forty-eight percent of IT managers expect their network loads to double over the next two years; 27 percent need better IT policies and security measures; and 21 percent need more bandwidth.
Impact on IT staffing
Big data projects have driven companies to train IT professionals in this specialised area and enterprises now require people who can transform raw data into information.
Twenty-two percent of IT managers said big data projects will significantly affect IT staffing, and 56 percent said it will have at least some impact.
Thirty-five percent felt completely ready to take advantage of big data opportunities, 36 percent are open to the idea felt the technologies and solutions were lacking, and 24 percent did not feel ready at all.
Adoption is in the early stage as only 33 percent of survey respondents globally have a plan in place to leverage these new data sources.
However, 64 percent of IT managers in China and 59 percent in India said their companies have already implemented plans to use these new data sources.