Big Data strategies the topic of Economist survey

The Economist Intelligence Unit conducted a global survey of 373 executives and in-depth interviews with thought leaders about Big Data strategies in 2013 called "Getting More Out of Big Data."

Only 10 percent of the respondents strongly agree they have a defined, documented Big Data strategy, while 35 percent say they somewhat agree and 12 percent say they strongly disagree. Meanwhile, almost one-third strongly agree or somewhat agree that their company has invested 25 percent more in 2012, while 38 percent either somewhat disagree or strongly disagree. However, 44 percent project that their Big Data strategy investment will increase 25 percent over the next three year, while 26 percent either somewhat disagree or strongly disagree.

Looking to the future implementation of a Big Data policy, the most popular plans for deriving insights from data include customer segmentation, 39 percent; external sources such as third-party data providers, 36 percent; surveys, 32 percent; census data, 20 percent; social media analysis, 20 percent; and focus groups, 18 percent.

The top data insights critical to decision-making, according to the survey, are trends, 42 percent; current status, e.g. quality, 41 percent; qualitative, e.g. customer experience, 38 percent; future, e.g. predictive, 32 percent; and real-time, e.g. customer interactions, 30 percent.