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October 21, 2014

Are UK firms struggling with Big Data?

45% of businesses have no experience using data analytics platforms.

By Amy-Jo Crowley

UK businesses are falling behind in big data adoption as they lack skills in data analytics and understanding in customer data.

That is the finding of a survey of 300 UK business and technical decision makers from UK enterprises and the public sector, which found that 61% see revenue growth as a key incentive in adapting big data.

However, the study, conducted by Opinium research for storage firm EMC, found that 45% of businesses have no experience using data analytics platforms, while 62% do not understand customer data, particularly relating to ethics, responsibility and compliance.

James Petter, SVP and Managing Director of EMC, UK & Ireland, said: "It’s great to see that the majority of businesses across all sectors are embracing big data analytics of some kind, but there’s clearly a long way to go before all businesses are equipped with the right skills, leadership and IT infrastructure to drive real change and new opportunities in their markets.

"Now is the time for businesses to invest in their people and processes to make sure that they don’t get left behind."

The research also found 56% of respondents in financial services recognised the potential to drive revenue streams and better understand customers, almost half revealed their IT infrastructure can’t move fast enough to make better use of data.

Steve Duplessie, Founder and Senior Analyst, Enterprise Strategy Group, added: "We know empirically that 20% of organisations feel they have a ‘problematic shortage of existing skills’ in the area of Business Intelligence and Analytics.

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"We also know that companies less than 10 years old are reaping significantly more value from analytics than their older counterparts. Traditional companies need to get moving faster in the analytics uptake, or the gaps are going to widen."

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