Singapore non-IT execs struggle to get big return on Big
Data
Data
·
46% state their non-IT senior management team do not
have enough knowledge about Big Data.
46% state their non-IT senior management team do not
have enough knowledge about Big Data.
·
56% of Singaporean CIOs believe Big Data has the
most impact on non-IT departments.
56% of Singaporean CIOs believe Big Data has the
most impact on non-IT departments.
· 51% say the biggest advantage of Big Data solutions
within their organisation is data-driven/strategic decision-making and 48% say
it will enhance their business models.
within their organisation is data-driven/strategic decision-making and 48% say
it will enhance their business models.
·
52% say the high cost of Big Data is the biggest
challenge and 37% refer to data protection/security.
52% say the high cost of Big Data is the biggest
challenge and 37% refer to data protection/security.
Singapore, 10 January 2017
– While Big Data is a concept that is instinctively linked to IT, independent research
commissioned by specialised recruitment company Robert
Half demonstrates non-IT departments also stand to gain from Big Data
insights yet such divisions haven’t been utilising it. This insight highlights the
potential of Big Data and data analytics for Singaporean businesses.
– While Big Data is a concept that is instinctively linked to IT, independent research
commissioned by specialised recruitment company Robert
Half demonstrates non-IT departments also stand to gain from Big Data
insights yet such divisions haven’t been utilising it. This insight highlights the
potential of Big Data and data analytics for Singaporean businesses.
On the other side of the scale,
when asked about the biggest challenges of using Big Data, 52% of CIOs say the primary
challenge is the cost of data capture, followed by 37% who refer to data
protection/security and 36% who say a lack of financial resources to fully
implement Big Data processes is one of the biggest challenges. Another
challenge to consider is the lack of personnel resources (33%) and skills
shortage (32%), indicating Singaporean companies do not have the required
expertise to operate Big Data processes.
when asked about the biggest challenges of using Big Data, 52% of CIOs say the primary
challenge is the cost of data capture, followed by 37% who refer to data
protection/security and 36% who say a lack of financial resources to fully
implement Big Data processes is one of the biggest challenges. Another
challenge to consider is the lack of personnel resources (33%) and skills
shortage (32%), indicating Singaporean companies do not have the required
expertise to operate Big Data processes.
Adding to these challenges, almost
half (46%) of CIOs think their non-IT senior management teams do not have
enough knowledge about Big Data and the utilisation of data effectively within
their organisation, thereby suggesting Singaporean businesses are still on
their way to fully utilising Big Data processes.
half (46%) of CIOs think their non-IT senior management teams do not have
enough knowledge about Big Data and the utilisation of data effectively within
their organisation, thereby suggesting Singaporean businesses are still on
their way to fully utilising Big Data processes.
Matthieu Imbert-Bouchard, Managing Director, Robert Half Singapore said: “The commercial world is
still learning how to collect and harness the full potential of Big Data, yet
already Big Data is revolutionising the way we do business and how we connect
with customers.”
still learning how to collect and harness the full potential of Big Data, yet
already Big Data is revolutionising the way we do business and how we connect
with customers.”
“Despite the challenges, leveraging Big Data goes beyond benefiting
just the IT department. Singaporean businesses need to take an enterprise-wide
approach, training and upskilling employees across different departments to
recognise exactly what Big Data has to offer. Whether there is a need for
additional professional development for existing IT staff, or hiring qualified
IT professionals skilled in Big Data analytics, the long-term benefits of using
this new technology will soon outweigh any immediate challenges.”
just the IT department. Singaporean businesses need to take an enterprise-wide
approach, training and upskilling employees across different departments to
recognise exactly what Big Data has to offer. Whether there is a need for
additional professional development for existing IT staff, or hiring qualified
IT professionals skilled in Big Data analytics, the long-term benefits of using
this new technology will soon outweigh any immediate challenges.”
While Big Data serves several
purposes, data-driven/strategic decision-making (51%), new and enhanced
business models (48%) and cost reduction (45%) are cited as the top three
advantages by Singaporean CIOs.
purposes, data-driven/strategic decision-making (51%), new and enhanced
business models (48%) and cost reduction (45%) are cited as the top three
advantages by Singaporean CIOs.
What are the biggest challenges when using Big Data within your
organisation?
organisation?
|
High costs
|
52%
|
|
Data protection/security
|
37%
|
|
Financial resources
|
36%
|
|
Personnel resources
|
33%
|
|
Technical considerations
|
33%
|
|
Skills shortage
|
32%
|
|
Lack of understanding of the
added value/potential |
25%
|
|
Organisational processes
|
19%
|
|
Management processes
|
15%
|
|
Regulatory challenges
|
15%
|
Source:
Independent survey commissioned by Robert Half among 100 CIOs – three answers
per respondent.
Independent survey commissioned by Robert Half among 100 CIOs – three answers
per respondent.
While more
than four in ten (44%) Singaporean CIOs say Big Data and data analytics have
more of a direct impact on IT, almost one in five (19%) believe it has more
influence on their operations department. Another 19% say it has a more marked
effect on their sales and marketing function, while little over one in 10 (12%)
refer to the finance and accounting department. This implies the benefits of Big
Data extend far beyond the confines of IT, and every department in a business
can benefit.
than four in ten (44%) Singaporean CIOs say Big Data and data analytics have
more of a direct impact on IT, almost one in five (19%) believe it has more
influence on their operations department. Another 19% say it has a more marked
effect on their sales and marketing function, while little over one in 10 (12%)
refer to the finance and accounting department. This implies the benefits of Big
Data extend far beyond the confines of IT, and every department in a business
can benefit.
What are the biggest advantages of Big Data solutions for your
organisation?
organisation?
|
Data-driven/strategic
decision-making |
51%
|
|
New/enhanced business models
|
48%
|
|
Reduction in costs
|
45%
|
|
Better overview of operational
processes |
38%
|
|
New/enhanced products/services
|
35%
|
|
Improved customer service
|
27%
|
|
Market analysis and
understanding |
27%
|
|
Automated decision-making
|
23%
|
|
Revenue increase
|
6%
|
Source:
Independent survey commissioned by Robert Half among 100 CIOs – three answers
per respondent.
Independent survey commissioned by Robert Half among 100 CIOs – three answers
per respondent.
“Setting up new systems to harvest Big Data can incur significant
financial investment. However, once implemented and fully applied, the
advantages can be significant in terms of cost efficiency and reduction. In
order to fully leverage the advantages of Big Data, companies are increasingly
relying on technology professionals who are not only highly skilled in data
analytics, but who also have the business acumen and communication skills to
convey to senior management and business leaders the best ways to use Big Data
and the insights gained from using it.”
financial investment. However, once implemented and fully applied, the
advantages can be significant in terms of cost efficiency and reduction. In
order to fully leverage the advantages of Big Data, companies are increasingly
relying on technology professionals who are not only highly skilled in data
analytics, but who also have the business acumen and communication skills to
convey to senior management and business leaders the best ways to use Big Data
and the insights gained from using it.”
“Companies that don’t invest in Big Data need to be mindful that
their competitors are probably already enjoying a competitive advantage as a
result of utilising Big Data information,” Matthieu Imbert-Bouchard
concluded.
their competitors are probably already enjoying a competitive advantage as a
result of utilising Big Data information,” Matthieu Imbert-Bouchard
concluded.
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