Big data / analytics: Finance and sales set to benefit

The adoption of big data as a business resource is now spreading across the enterprise to finance and sales teams.

Our 2018 European Tech Index reveals:

Which departments benefit most from advances in big data / analytics

While IT remains the top pick by far (70 percent of 2018 respondents versus 68 percent in 2016), there has been a significant increase in those citing finance (22 percent in 2018, up from just 4 percent in 2016) and sales (21 percent in 2018, up from just 1 percent in 2016), perhaps reflecting a much greater focus on customer needs.

The benefits of big data / analytics

Optimizing business processes (54 percent in 2018) and encouraging innovation (52 percent in 2018) remain the most cited benefits by respondents, well ahead of other factors.

Fig 20 Key benefits of big data

Challenges of implementing big data / analytics programs are declining

As companies gain experience, there are marked decreases in those citing lack of skills/resources as a challenge (down from 56 percent in 2016 to 46 percent in 2018) and collection and mining of data (down from 52 percent in 2016 to 41 percent in 2018).

Fig 21 Biggest challenges of big data

Concerns about data security are hindering growth

Protecting data remains the key challenge (58 percent of respondents in 2018), potentially holding back some businesses from maximizing their leverage from the big data / analytics landscape – a shame, given there are considerable competitive gains to be made.