Enterprise Business Intelligence and Big Data Analytics are not mutually exclusive. According to Leslie Ament, SVP and Principal Analyst, 'In most organizations enterprise business intelligence and big data analytics initiatives coexist reasonably.'
Boston, MA (PRWEB) September 17, 2013
Industry analyst and market research firm Hypatia Research Group announces publication of a new primary research study entitled “Delivering Big Data Analytics Insights: Why Choose between Accuracy, Agility OR Speed?” This twenty-eight page study with eighteen figures provides end-user organizations with an analysis of why companies invest in Big Data Analytics (BDA) solutions, what tangible benefits are possible, and what metrics can be used to measure the ROI of a BDA initiative. In short, our research provides actionable insight that companies may use in compiling a vendor short list, request for qualifications and best practice terms of engagement with software vendors and providers of services. Visit our E-store for further information.
According to Leslie Ament, SVP of research and principal analyst, Hypatia Research Group defines “Big Data Analytics as technologies and services capable of efficiently performing descriptive, diagnostic, predictive or prescriptive analysis on large quantities of information (ranging from dozens of terabytes to many petabytes) of data and unstructured content with the express goal of enhancing business outcomes.”
“In most organizations, enterprise business intelligence and big data analytics initiatives coexist reasonably well. It is not a matter of one versus the other, rather, that the scope and type of analysis required coupled with the selection of specific information sources typically determines which analytical techniques should be used for maximum business results,” Ament added.
Exploiting the value inherent in the analysis of continuously increasing volumes of Big Data is not new. For at least the last ten years, companies within industries such as financial services, insurance, consumer goods, entertainment, travel and hospitality have engaged marketing services providers to guide them in understanding, profiling, targeting and influencing customers to purchase their goods and services.
On the other hand, keeping analytical domain expertise in-house empowers companies to rapidly discover and apply unique insights created from proprietary and public information sources while the opportunity is viable. It is this speed to insight that is at the root of value creation in a Big Data Analytics environment.
Our analysis of 436 Fortune 500 executives that actually utilize, recommend, influence, hold budget or veto power over the purchase of Big Data Analytics (BDA) or business intelligence software provides contrarian insight into how and why large organizations:
- Invest in Big Data Analytics software solutions
- Utilize a wide variety of informational sources
- Measure productivity and effectiveness of BDA initiatives
- Seek high accuracy and reliability of results
- Realize downstream business benefits
- Prioritize software selection criteria
Industry analyst and market research firm Hypatia Research Group delivers high impact market intelligence, industry benchmarking, best practice, and vendor selection research for how businesses use technology and service providers to capture, manage, analyze and apply customer and market intelligence to enhance performance and accelerate growth. Coverage includes: Customer Management (CRM), Business Intelligence, Advanced Analytics, Customer Analytics, Social Media, Text Analytics, Marketing Automation, Information Management, Customer Data Management/Data Quality and GRC. Since 2001, clients have relied on Hypatia for industry insight, expertise and independent market research for guidance in assessing various technology and service options.
For advisory, licensing or further analysis on this topic by company size, industry, job function or geography, please contact us.