A new study by McKinsey & Company reveals that less risky and potentially more beneficial realm of Big Data software is a higher priority today than social media integration. The study consisted of 1,500 surveyed CEOs, CFOs and CIOs between April 3 and April 12, 2012.
Almost 50% of respondents stated that they are currently using Big Data to “understand their customers better”, whereas 32% stated they are using social media for “interaction and promotion purposes.” The survey also found:
— 13% did not consider Big Data a priority, so far as stating it was “not on the agenda”
— Over 50% state that flexible delivery platforms are a priority for the next 1-2 business years
— 19% of respondents have deployed digital marketing practices across the enterprise
— 4% used location-based software to target customer promotions
The study also found:
— 52% believe that organizational structures not designed to take advantage of either Big Data or social media priorities
— 51% say that lack of technology infrastructure and IT systems are a significant challenge
— 43% and 31% are having difficulty in finding functional and IT talent, respectively
Big Data and social media do not ave to be mutually exclusive. A number of businesses are beginning to integrate the two, using Big Data solutions to analyze business content based on their social media activity.
