Study: Big Data lacks strategic orientation

Which technologies are used in the context of data analysis? Which industries are currently pioneers, which are laggards? The study "Creating Value with Data 2015" examines the current status and prospects for the use of data analytics in the German economy.

For this purpose, Bitkom Research surveyed a total of 706 companies on behalf of the auditing and consulting firm KPMG. Although 75 percent of the companies surveyed already make relevant decisions on the basis of data analyses, many companies do not yet have a corresponding strategy.

In order to derive usable knowledge and sustainable decisions from the flood of data, companies need to understand how to properly mine their treasure trove of data.

Only a few companies are exploiting the full potential of data analytics. Currently, German companies mainly analyze internally available company and customer data, while external data is rarely processed.

While 71 percent are satisfied with individual ad hoc analyses, advanced data analyses show a proportion of 98 percent of satisfied users. With data analyses, companies primarily aim to increase efficiency and revenue, and less to minimize risk.

More than half of the companies surveyed rate the goals of increasing revenue (61 percent) and improving efficiency (55 percent) as very important when using data analytics. Companies recognize the growing importance of Big Data, but the strategies for it are not yet in place at many.

While nearly two-thirds of companies expect the importance of Big Data to grow in their organization over the next three years, less than one-third have a strategy for implementing specific Big Data measures.