Euro business insights from new forms of Big Data vary greatly
15 September 2014 | 0
According to new research from Teradata, the global data warehousing company, the business insights gained from big data vary greatly across Europe.
A survey of around 300 C-level executives in enterprises across the UK, France and Germany investigated the analysis of data from the likes of social media, web blogs, video, call centre notes, audio files and sensors in the Internet of Things, HTML and XML.
The results showed that UK firms are missing out on new business insights from big data, with only a fifth (20%) investigating using three or more data sources, according to research commissioned by Teradata, the global data warehousing company. Furthermore, just a third of UK companies said they are “actively investigating” more than one type of new data, such as social media, sensor data or video, compared with more than half (55%) of firms in France and Germany.
Overall, said Teradata, UK executives “registered lower levels of engagement with data analytics or reported less advanced use”.
“The survey results indicate that UK companies are falling behind their competitors in Germany and France in the use of the new types of Big Data and the evolving techniques of analysis,” said Duncan Ross, director for data sciences, Teradata International. “The gap in performance means UK companies need to seize this opportunity and obtain the right expertise to fulfil their potential in what will be the most important arena of business in the 21st Century.”
Among UK executives, the largest group (33%) said their main goal in using new data types is “improved accuracy”, compared with 27% of companies in France and 41% in Germany. Most executives in Germany (56%) said they are using data analytics to “reduce the time in receiving results”, a considerably larger response than the 34% in France and 28% in UK.
Companies in France and Germany put more stress on efficiency gains than those in the UK, with 57% of executives in France and Germany saying their goal in using new data analytics was to “increase efficiency and reduce people time”. In the UK, by contrast, 24% cited this as an aim.
Antony Savvas, IDG News Service