Big data is big business for retailers, with findings released today by technology research firm Telsyte confirming a growing appetite for its applications and services among Australian businesses.However, while the benefits of big data are widely acknowledged, CIOs currently see cost and integration as the biggest barriers to adoption.
The use of big data applications and services among Australian organisations with more than 20 employees has passed 25 per cent, according to Telsyte, and is forecast to reach 65 per cent by 2018.
The findings come as companies such as information technology and digital solutions provider Invigor make a concerted expansion into big data, with retailers and consumer electronics manufacturers continuing to explore its potential.
Telsyte expects more customer interactions being carried out through digital channels to be among the factors influencing the drive for big data.
A move from “reactive” to “proactive” – or “predictive” – business intelligence and analytics, and better use of available real-time data from existing IT and device infrastructure will also be driving the industry forward.
Telsyte senior analyst Rodney Gedda noted there is a massive growth opportunity for big data software and systems vendors, and cloud and on-premises service providers, once organisations have identified a business case.
“Increasing data volumes are being driven by emerging technology, including smarter mobile devices, the Internet of Things, online e-commerce, and retail POS activity,” Gedda commented.
“CIOs have stated the perceived cost of big data software and solutions is the biggest barrier to adoption, so the market is primed for low upfront cost options such as those offered by cloud providers and pay-per-use options. This can help identify a return on big data investments.”
Telsyte found cloud storage is increasingly being utilised, with some 30 per cent of organisations intending to move on-premise storage to the cloud within the next 12 months.
More than 40 per cent of organisations using big data are using it for IT network monitoring and management, business intelligence, and sales and marketing applications, with customer behaviour measurement among the fastest growth areas for big data applications.