Big Data Solutions hinder IT Budget: Cisco

The Cisco Connected World Technology Report (CCWTR) has revealed that IT professionals and businesses are challenged to extract strategic value from enormous amount of data. This survey was done on IT professionals across 18 countries to examine the IT readiness, challenges, technology gaps, and strategic value of implementing Big Data projects.

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.

Key India Findings CCWTR 2012 reveals that 82 per cent of the respondents in India agreed that Big Data will help countries improve decision-making and help them to be more globally competitive. 4 out of 5 IT managers in India (83 per cent) agree that Big Data will be a strategic priority for their companies in 2013 and over the next five years as well compared to 68 per cent globally and almost half of IT managers surveyed in India (46 per cent) estimated networks loads to double over the next two years, while one out of four (26 per cent) felt that this would triple in the next two years.  However, only two out of five surveyed (41 per cent) report that they are ready for the surge in network traffic.
IT managers report several obstacles to adopting Big Data solutions: Security tops the list, followed by budget and staffing. More than half of the IT respondents believe Big Data affects their organizations’ IT based on technology, personnel and expertise requirements.

Many companies are discovering that Big Data projects need to span multiple lines of business requiring new levels of intercompany collaboration.