Companies Are Losing 45-Cents of Every Dollar Spent On Big Data

“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 realty, however, is that most enterprises have to date achieved a return of just $0.55 on the dollar.”  Wikibon.

The reason that loss is occurring has been identified by a number of experts from Accenture and PwC to IDC. 

According to Jeanne G. Harris managing director, information technology research at the Accenture Institute for High Performance, in a February 2014 Wall Street Journal article,“…The full potential of quantitative analytics can be unlocked only when combined with business intuition.”  (The unconscious real-time analyses and judgments of individuals.)

A September 2014 Economist Intelligence Unit report that was sponsored by PwC states that, “In reality, experience and intuition and data and analysis are not mutually exclusive.  The challenge for business is how best to marry the two.”

According to IDC -- International Data Corporation -- knowledge workers spend over 30% of the workday searching for the right content and data.  That time will grow as the amount of available content and data grows. 

The key to achieving exceptional results from big data is not just analytics or some other magical formula but the exercise of superior decision-making expertise by many individuals. 

The ICR unlocks the full potential of big data and quantitative analytics by ensuring that the content and data an expert uses is instantly available at the right time along with the real-time interpretations, analyses and judgments the expert performs.  …More