It is often observed that business executives acknowledge importance of certain tools, but in spite of ist practically they do not invest in such things. As a result of that businesses and companies suffer in the long run because with each passing day competition in the industry is getting stronger and stronger. Therefore, in order to survive and excel in any business one cannot take the risk of keeping a gap between what they know and what they do.
Similar is the case with many Canadian business executives when it comes to adopting the Big Data technologies because the majority of them unanimously admits that such technology is of great importance, as it supplies strategic insight by measuring the data. However, in reality only 48 percent of these Canadian business executives had made investments in such tools as per the survey report published in Globe and Mail.
This survey was conducted by business analytics and business intelligence software firm, SAS and it notes that “Canadian companies are at risk of losing out competitively to international rivals because of their slowness in adopting the technology needed to process Big Data, according to the results of a new survey. While 96 per cent of Canadian businesses in the survey say the ability to process and act on data in real time is important, less than half – 48 per cent – have invested in the technologies to do so.”
SAS along with IDC Canada conducted another survey which indicates that strategic initiatives related to Big Data were also not very encouraging because instead of guiding such programs from the front, many top executives shove those responsibilities downstream. This means that if data is collected from different sources such as customer data bases or social media and is therefore not owned by top executives, it simply goes to waste instead of being used for all aspects of a business.
As the research director of IDC, Nigel Wallis said, “For Canadian organizations to take full advantage of the transformative potential of their data, they need to approach it strategically. That starts with executive understanding and ownership of data as differentiator and an end to the pattern of delegation that has so far characterized Canadian technology adoption”.
Source: Infomart
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