The explosion of investment in big data continues, with global spend expected to reach $114 billion by 2018 according to ABI Research. This forecast includes the money spent on internal salaries, professional services, technology services, internal hardware, and internal software. This investment supports an overwhelming mandate from executives for their organizations to become more data-driven, not only to make better strategic decisions but to gain operational efficiencies that result in higher margins and ultimately benefit shareholders.
Given the strategic imperative from the c-suite to harness the power of big data, why do the majority of these projects fail? Gartner estimates the failure rate to be nearly 60 percent. Similarly, Capgemini finds that only 27 percent of executives believe big data projects succeed and of those only 8 percent are “very” successful.
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