Almost half of non-IT execs clueless about big data
Non-IT departments stand to gain from big data insights yet such divisions haven’t been utilizing it, independent research commissioned by Robert Half shows.
The recruitment company said 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.
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 utilization of data effectively within their organization, thereby suggesting Singaporean businesses are still on their way to fully utilizing big data processes.
“The commercial world is still learning how to collect and harness the full potential of big data, yet already big data is revolutionizing the way we do business and how we connect with customers,” said Matthieu Imbert-Bouchard, managing director of Robert Half Singapore.
“Despite the challenges, leveraging big data goes beyond benefiting just the IT department,” said Imbert-Bouchard. “Singaporean businesses need to take an enterprise-wide approach, training and upskilling employees across different departments to recognize 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.