Despite businesses recognising the benefits of big data almost one in two (49%) are not making the most of Business Process Management (BPM) to help manage their growing data volumes, and are failing to invest in enterprise-wide solutions.
According to a survey by Software AG of nearly 300 senior executives across UK private and public sector organisations, the majority of businesses (90%) recognise the benefits of big data, however almost three-quarters (74%) of businesses see it as a distinct new challenge and more than half (56%) are already putting plans in place to address the issue.
As well as big data issues the survey findings also reinforced the central role of the customer in driving improved performance. Customer service was identified by more than a half (59%) of respondents as their organisation's greatest challenge, compared to just 14 per cent who cited operational efficiencies as the biggest hurdle they had to overcome.
Businesses believe data management is the key to big data
Almost two-thirds (63%) confirmed that effective data management is very important to achieving this key business goal, with only seven per cent seeing it as irrelevant. Similarly, 56 per cent underlined the key importance of good process management, with only four per cent seeing this as contributing little to their success.
However, in the case of both data and process management only a minority of respondents believe their organisations are as yet very effective, with nearly 60% accepting they still have some way to go.
Customer experience is the driving factor behind big data
Though improving the customer experience remains the number one driver for change, regulatory compliance and operational risk also cannot be ignored. Half of those organisations surveyed are already in highly-regulated environments and 42 per cent expect this to increase over the next five years.
"All this change is taking place at a time when the CIO and CFO are under pressure to squeeze maximum value from tight IT budgets and get company-wide buy-in to any investment," believes Mike Slater, UK country manager, Software AG. "Any data and process management solution must therefore deliver real value in achieving the organisation's business goals. It must also make the most of the existing IT infrastructure and encourage the removal of the departmental silos which get in the way of effective information-sharing.
"Businesses need to access and analyse all the data they hold in order to get closer to the customer," he confirms. "Operationally, the best way to achieve this goal is to start small at the point of greatest pain within the business and then roll out business process improvement step-by-step across the organisation on the basis of proven success. A centralised, open-standards, technology-agnostic BPE platform offers an ideal high-value, low-risk entry point in delivering data and process management improvement and a better customer experience."