Paris – A global report by Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, in partnership with EMC Corporation, reveals that amid the market disruption being driven by Big Data, two-thirds of organizations (65 per cent) acknowledge they are at risk of becoming uncompetitive unless they embrace new data analytics solutions. The report, ‘Big & Fast Data: The rise of Insight-Driven Business’ surveyed over 1,000 C-suite and senior decision makers across North America, South America, Europe and Asia-Pacific to understand the need and enterprise readiness for Big Data adoption. In response to client demand, and building on the success of its Business Information Management Global Service Line (GSL), launched five years ago, Capgemini plans to grow substantially the size of its insights and data capability through a new ‘Insights & Data’ global practice, with a greater focus on helping clients access relevant insights to inform business decision-making across the whole enterprise.
According to 64 per cent of enterprises surveyed Big Data is changing traditional business boundaries and is enabling new providers to move into their industry. Over one quarter (27 per cent) reported competition from new players in other industries, while a majority, (53 per cent) expect to face rivalry from data-enabled start-ups. This suggests that mastering the management and analysis of Big Data is now key not just to success but also to business survival.
Data-driven insights are fundamental to business performance
- 54 per cent say that investment in Big Data over the next three years will outstrip past investment
- 61 per cent acknowledge that Big Data is now a driver of revenues in its own right and is becoming as valuable to their businesses as their existing products and services
- 43 per cent organizations already have or are currently restructuring in order to exploit new Big Data opportunities
- 36 per cent of respondents say that due to the strategic importance of Big Data, they have had to circumvent IT teams to carry out the necessary data analytics required to gain business insights
- Over half (52 per cent) of respondents reported that developing fast insights from data was hampered by limitations in the IT development process
- Accessing Big Data faster is where C-suite executives see the most value – 77 per cent state that decision makers increasingly require data in real-time.
Capgemini’s Insights & Data global practice focusing on new Insights as-a-service platform
The Capgemini Insights & Data practice combines the pioneering work to date on big and fast data and its business consulting expertise with a new insights focused approach. As part of this initiative Capgemini has developed an innovative Insights as-a-service platform which will be piloted with a select number of clients during H1 2015. Designed to enable companies to analyze and respond to the behavior patterns and actions of their customers in real time, this new platform should also enable continuous improvement of selected business processes in selected domains, without incurring the upfront cost of investment in data science and IT infrastructure. Capgemini expects its Insights as-a-service platform to be ready in H2 2015.
The Big Fast Data: Rise of the Insight-Driven Business report draws on research conducted by FreshMinds, on behalf of Capgemini and EMC. It combines the results from a quantitative online survey and supplementary in-depth qualitative interviews during August 2014. Over 1,000 senior decision makers from across 9 industries (including consumer goods and retail, engineering, financial services, healthcare, media, oil and gas, public sector, telecommunications and utilities) and 10 markets worldwide (including Australia, Brazil, Canada, China, France, Germany, Netherlands, Nordics (Sweden, Finland, Norway) United Kingdom, and the United States) took part in the study.
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