A research report by HPE suggests that data use is in its infancy. Most companies want to improve processing and analytics, but a lack of budgets and strategy holds back growth.
HPE interviewed 8,600 executives, directors and managers worldwide for a survey on the state of data use. 62 percent believe it’s important to manage and analyze data, but the resources required are scarce. 28 percent say their organization does not allocate budgets for data projects. One in five rely on general IT funding.
The consequences vary. According to HPE, a lack of data processing leads to slow revenue growth, stagnant innovation and little progress in efficiency.
“Creating value from data also requires aggregating data or data insights from different applications, locations or external data spaces”, HPE commented. “For example, a manufacturer’s sensor telemetry from sold products can help the R&D department to better align the next product generation with customer needs.”
Only 28 percent of respondents said that data-driven services and products are at the core of their company’s strategy. One in three stated that data is isolated in separate applications and storage locations. Only 19 percent have a centralized environment with access to real-time data from different systems.
Motivation doesn’t seem to be the problem. Most respondents believe it’s important to be able to extract value from data. Many feel that infrastructure and software vendors deliberately make it difficult to collect and analyze information. 52 percent are concerned that large technology companies have too much control over data.