Feeds

Big data: You've got to spend a dollar ... to make fifty-two cents – report

Maybe it's not the gold mine the hype-sters thought it was

High performance access to file storage

What do you expect from big data mining: easy-to-find gold nuggets of information from the dark pits of the data dumps? According to a recent report from the Wikibon consulting group, almost half of big data projects fail.

It also found that the payoffs – using current technology – are not yet worth the costs of running the projects.

Here's what the open-sourced consultancy has to say:

In a recent survey, 46 per cent of Big Data practitioners report that they have only realised partial value from their Big Data deployments. An unfortunate 2 per vent declared their Big Data deployments total failures, with no value achieved.

Why? Wikibon sees three reasons

  1. Not enough skilled Big Data practitioners
  2. "Raw" and relatively immature technology
  3. A lack of compelling business use case

Wikibon looked at around 100 firms currently investing in big data projects and found: "Enterprises expect a return of between $3 and $4 for every $1 invested in Big Data technology over the next three to five years. The reality, however, is that most enterprises have to date achieved a return of just $.55 on the dollar."

That's pathetic.

Big Data ROI (Wikibon 2013)

Its conclusion is:

Enterprises interested in leveraging Big Data to drive impactful business outcomes must be prepared to deal with the double threat of too few skilled Big Data practitioners and raw, immature technology.

It suggests that, in order to "overcome these obstacles", and derive "significant value" from big data, enterprises should consider engaging professional services organizations and/or cloud services.

Read the report here. ®

Top three mobile application threats

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.