Data management is a huge business, with massive amounts of data stored in too many locations. Big Data is the term coined for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications.
Big data requires exceptional technologies to efficiently process large quantities of data within tolerable elapsed times, are Singapore businesses equipped and do they need it?
EMC has solutions for Big data – it can transform big data into actionable strategies with EMC scale out storage, big data analytics, and data-enabled applications. Just today, EMC Corporation has released the findings of a survey of IT decision makers in Singapore about their perspective on the challenges and opportunities that Big Data and IT transformation can bring.
In Singapore, Big Data is giving rise to markedly improved decision making and is having a significant impact on companies’ competitive differentiation and ability to avert risk.
- 80% of Singaporean businesses surveys reported that better uses of Big Data will lead to better decision making.
- 63% of respondents believe that Big Data will be a key factor in determining winners and losers in their industry.
- 37% have already achieved a competitive advantage as a result of Big Data analytics technology.
- 63% believe that those industries that succeed will be the same ones using Big Data tools.
- 64% of respondents also agree that Big Data technology will prove vital in identifying and protecting against cyber attacks.
- 83% agree that data center automation will be crucial to innovation and agility over the next three years.
However, in Singapore,
- 22% of companies surveyed have no current plans for implementing Big Data technology.
- While budget considerations was the most important factor for overall business decision making (44%), the most common reason cited as an inhibitor to Big Data adoption is that the business culture is unready for Big Data (61%).
As companies in Singapore continue to look to I.T. innovation to compete locally and on the global stage:
- 69% agree that their business sees technology investment as a strategic way of achieving its goals.
- The top three drivers for the transformation of IT systems and infrastructure in Singapore organisations are: business process/operational efficiencies (54%), improved governance and compliance (28%) and enhancing customer experience/engagement/
- 69% of respondents from Singapore report that their business believes technology investment is a strategic way to achieve its goals.
- 82% of respondents report that they have the correct level of skills and knowledge in place to complete their business priorities successfully.
- 61% of respondents in Singapore report that ensuring skills keep pace with the rate of I.T. innovation will be a challenge for their organisations over the next three years.
- 70% of respondents agree that I.T. is now equipped to handle the most essential business priorities – and that now, the biggest barrier is cultural.
This research findings came from 130 business and IT management and executives, technical architects, data scientists and storage/infrastructure managers from a range of businesses in Singapore.