Download - Reaping the rewards of big data
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Reaping the
Rewards of Big Data
A Wipro and Outsourcing Center Study
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Overview
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The Context – Big Data Environment
The current business environment is impacted by proliferating data, shrinking
budgets and growing customer demands.
Big data can drive both operational efficiency and quality, leading to cost and
labor savings and a competitive edge. Leveraging big data can also help
companies streamline processes, fighting fraud and reducing errors.
Thus, business analytics is the key to obtaining actionable insights by
leveraging the huge amounts of data that flood into organizations of all sizes
and types.
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Features of Big Data
Big Data Spans
across..
Variety – extends beyond structured, to unstructured
data of all types
Complexity – processing of
data for meaningful
insights
Volume – Enterprises easily amass
terabytes and even petabytes of information
Velocity – data gets created in
real time, continuously
“Value” is another key
parameter - measured as
RoI delivered in tangible
and intangible terms
Identified as one of the top
10 technologies for 2012,
Gartner reports the size,
complexity of formats and
speed of delivery exceeds the
capabilities of traditional data
management technologies;
new technologies needed
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A Wipro and OutsourcingCenter Study
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Study objective and sample background
Wipro and Outsourcing Center performed a survey that looked at how
organizations are managing and analyzing proliferating data, and determined
how firms are leveraging big data for the benefit of their business.
While not a comprehensive picture of how these organizations are
approaching big data, the
survey results identify some general trends in this emerging area.
Survey respondents were from retail, financial services,
transportation/logistics, manufacturing, healthcare, telecommunications and
other industries.
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Survey Findings
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Survey Findings
In the future, the key challenge with big data will be its size and the fact that normal
software and processes can’t handle it well.
58 27
15
Are Big Data platforms essential to
manage future big data challenges? (%)
Yes No Not Sure
Organizations of all types are
challenged by the vast volume of data.
There is also an added complexity of
managing data variety, velocity.
However, opportunity the power of big
data too. There is a chance to leverage
the combination of enterprise data with
new age data forms to obtain better
quality insights about customers,
operations, etc.
More than half (57.6%) of the survey
respondents replied in the affirmative.
More than a quarter (27.3%) said big
data is not a challenge but this outlook
is likely to change in the future.
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Survey Findings
It’s important to identify what data is useful and have the appropriate methods and software
tools to process them and use them effectively for analysis.
Reporting data in real time and handling external data are the top two concerns of big data
management. 36.4% of the respondents faced each of these to challenges.
Most Common Big Data Related Challenges
33% of the respondents also reported that they were unable to analyze the data sufficiently due to
structural and other complexities.
27.3% respondents also felt that lack of skilled/trained personnel was a challenge and also found it
difficult to transform analyzed data into actionable insights.
It is also important that organizations evaluate every big data initiative thoroughly for the
business value it can deliver. Every big data initiative should have the potential to deliver
quantum business benefits in a sustained manner.
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Organizations need to look for alternates to handle big data generated from various
external and internal touch points that cannot be gracefully stored, processed and analyzed
using the existing IT infrastructure due to volume, variety and complexity.
55 27
14 4
How long has your organization had a
big data strategy in place? (%)
<1 year 1-3 years 3-5 years 5-8 years
42.4% are either just considering a
strategy or don’t have a strategy, nor
considering one.
In times to come, organizations will
look for ways to cost-effectively store
and process all the sources of data to
develop insights, and this will lead them
to Big Data Platforms.
Only 4+% (4.5%) of the surveyed
respondents have had a strategy in
place for a prolonged time period.
Survey Findings
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Big data allows organizations to capture data and iteratively discover what’s within it by
using multiple models and even by making early decisions.
73% of the respondents feel that the ability of a big data strategy to drive operational efficiencies is the
greatest benefit.
Key Benefits of Implementing a big data strategy
50% respondents also value the ability to gain a competitive edge and get exposure to new growth
opportunities
Driving Innovation and boosting productivity were the next most popular choices for the benefits of
a big data strategy with close to 50% respondents choosing each.
New forms of data provide new insights that can potentially transform the way businesses
are run.
Survey Findings
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In order to make the big data strategy implementation process smoother, organizations
need to identify useful data from various sources, have the appropriate methods and
software tools to process, and use them effectively for analysis.
45.5% respondents feel that a lack of measureable RoI is the biggest roadblock to adopting and
implementing a big data strategy
Biggest Roadblocks of Implementing a big data strategy
Privacy concerns and internal resistance to cultural changes were stated by 18% as major
roadblocks to big data management
An outside service provider can be a big help in this regard, since providers can bring
consulting expertise to help organizations identify the right business case for implementing
a big data strategy.
27.3% of the surveyed organizations feel that the task of reengineering the current strategies and programs
are too daunting and time consuming.
Survey Findings
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Key Takeaways
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Key Takeaways – Importance of Big Data
Leveraging big data can enable businesses of all kinds to…
• Make large volumes of information transparent and usable
• Drive operational efficiencies and help create process improvements, leading to greater operating margins
• Collect very granular information to reveal variability in customer buying patterns, personnel productivity and more
• Gain actionable insights that lead to better and more informed management decisions
• Glean important information that can help determine product and service improvements
• Improve customer segmentation, leading to more tailored marketing efforts and improved cross-sell and up-sell success
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Key Takeaways – Wipro Advantage
• Organizations need the ability to disseminate, understand and ultimately benefit from increasing volumes of data. These organizations will be in a position to win customers, gain competitive advantage and succeed based on their ability to leverage their data assets.
• In order to fully leverage the massive – and increasing – amount of data flooding in to their enterprises, organizations should adopt a Big Data strategy.
• Wipro offers a full range of big data consulting and implementation services that can help organizations of all types and sizes harness the power of exponentially increasing amounts of data for competitive advantage and to drive organizational efficiency.
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For more details please visit the link below
http://www.wipro.com/landing-pages/Pages/reaping-the-rewards-
of-big-data.aspx
Or contact [email protected]
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About Wipro Council of Industry Research
Wipro set up the Council for Industry Research, comprised of
domain and technology experts from the organization, to address
the needs of customers. It specifically surveys innovative
strategies that will help customers gain competitive advantage in
the market. The Council, in collaboration with leading academic
institutions and industry bodies, studies market trends to help
equip organizations with insights to facilitate their IT and
business strategies.
For more information on the Research Council visit
www.wipro.com/insights or mail [email protected]
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About Wipro Technologies
• Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” – helping clients create successful and adaptive businesses. A company recognised globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has over130,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
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Thank You
© Wipro Limited, 2012. All rights reserved.
For more information visit www.wipro.com
No part of this document may be reproduced in whole or in
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Wipro is not liable for any business outcome based on the
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