How big data is being used and what's holding it back

Big data has been something of a buzz word in IT and in enterprises in recent years, but while many people are enthusiastic about its potential there are fewer examples of its tangible benefits.

Canadian printing company Colourfast has produced an infographic looking at what benefits big data is actually bringing to companies.

Among the findings are that 40 percent of companies worldwide use big data analytics. Organizations that quantify their gains from big data analytics reported an eight percent increase in revenues and a 10 percent reduction in cost as a result of doing so.

The most popular uses of the technology include the analysis of large volumes of data (57 percent), better or new analysis possibilities (55 percent), and building predictive models (51 percent).

The graphic also looks at the issues holding big data back. The top three here are inadequate analytical know-how (53 percent), data privacy issues (49 percent) and tying for third, inadequate technical know-how and data security both on 48 percent.

You can see more, including tips on getting the best from big data projects in the full graphic below.

Image credit: David Gaylor /Shutterstock