Big Data Use at its Infancy But Business Can See Future ROI

MBN IT Recruitment

The most popular use of ‘Big Data’ in UK businesses is for sales and marketing activities, according to MBN Solutions’ ‘Big Data Survey 2013’.

In fact, over 80% of the 135 survey respondents indicated that generating new revenue was the main objective of harnessing and leveraging their data. And 95% said that this emphasis on revenue generation would become “increasingly more acute” in the years to come.

MBN is a Glasgow-based recruiter of data analytics and insight professionals. In MBN’s first annual Big Data survey, the results also revealed that 71% of the 135 respondents have used data analysis to aim to predict and analyse “future business activities across a wide range of functions”.

“Interestingly, as companies get larger they are more likely to also use data for competitive intelligence and modelling against peer competitors,” Paul Forrest, MBN non-executive chairman, told a London audience of decision makers and senior analytics and marketing professionals at a November event, which Recruiter also attended.

Respondents suggested that they currently see “a reduced return on investment [ROI]” in harnessing and leveraging their Big Data but also were optimistic about the future prospects for greater ROI. “More than 40% believe the initiatives will eventually deliver what is expected,” Forrest said.

A frequently referenced issue was, Forrest said, “the ongoing problem of the importance of the tools. Our survey indicates that 72% of respondents consider that tools are only the start, and that people are the real key to unlocking the value in promise”.

HannahD

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