Cisco, in its recent Connected World Technology Report has observed that 69 percent of the surveyed IT managers in India predicted that big data will increase their budgets over the next three years. The study commissioned by Cisco, surveyed IT professionals across 18 countries to examine the IT readiness, challenges, technology gaps, and strategic value of implementing big data projects.
Enormous amounts of data are being generated daily by smart phones, sensors, video cameras, smart meters, and other connected devices, adding to the huge store of information from traditional sources. This “data avalanche” represents a potential gold mine of insights, The study observes that IT professionals and businesses are challenged to extract strategic value from their data.
According to Cisco, while most companies are collecting, storing and analyzing data, the report reveals that many are struggling with both the business and IT challenges of big data. For instance, while 60 percent of survey respondents globally agreed that big data will help improve decision making and increase their competitiveness, only 28 percent report they are currently generating strategic value from their data.
The India findings of the study indicate that 82 percent of respondents in India agreed that big data will help countries improve decision making and help them to be more globally competitive, while globally 60 percent of the respondents believed so. Four in five IT managers in India (83 percent) agreed that big data will be a strategic priority for their companies in 2013 and over the next five years as well compared to 68 percent globally.
Findings also suggest that data security (41percent), lack of time to study big data (19 percent) and lack of solutions that fit need & expertise (11 percent) were the top three concerns cited by Indian respondents that are hindering big data adoption.
Furthermore, almost 46 percent of the surveyed IT managers in India estimated networks loads to double over the next 2 years; while one in four (26 percent) felt that this would triple in the next two years. However, only two out five surveyed (41 percent) believe that they are ready for the surge in network traffic.
