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

Beginner's guide to SSL certificates

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
'Internet Freedom Panel' to keep web overlord ICANN out of Russian hands – new proposal
Come back with our internet! cries Republican drawing up bill
What a Mesa: Apple vows to re-use titsup GT sapphire glass plant
Commits to American manufacturing ... of secret tech
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.