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Devo Survey Highlights Time, Cost Benefits of Centralized Data Systems
With the increasing presence of data throughout the enterprise, many IT and business leaders are recognizing the value of centralized systems to collect, store, access and analyze business data, according to a recent survey from Devo Technology. The resulting report, titled “What’s Data Got to Do with It?” indicates that “single view” of data would result in faster analysis and greater IT agility. A centralized approach would also reduce costs by eliminating redundant storage systems, while saving time in accessing multiple data sources. An estimated 400 IT, security and business decision-makers took part in the research, which was conducted by Vanson Bourne. The following slideshow presents survey highlights, with charts provided courtesy of Devo Technology, which specializes in real-time analytics of machine data.
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IT Wants More Control over Data Access
Three-quarters of survey respondents feel they should be more involved in deciding how data is shared/accessed. This sentiment is stronger within the tech department, as about four of five cyber-security and IT decisions makers feel this way.
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Lack of Centralized Data Locations Presents Challenges
The findings reveal that 44 percent of respondents overall said they are challenged by the fact that their organization’s data isn’t in a central location for easy access. In terms of job-specific roles, 40 percent of business decision-makers, 48 percent of IT decision-makers and 43 percent of cyber-security decision-makers agree with this statement.
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Faulty Data “Saves” Create Inaccuracies
Just over two-of-five respondents overall said they face challenges when data is saved in an incorrect system. In breaking down the responses by job function, 34 percent of business decision-makers, 41 percent of IT decision-makers and 51 percent of cyber-security decision-makers deal with this issue.
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Siloed Systems Cause Expensive Frustrations
Nearly one-half of respondents said that the use of different systems for data storage and analysis increases expenses in the form of dual systems, data storage and other redundant system costs. Meanwhile 41 percent said this situation leads to an inability to combine data sources to make decisions.
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Single View Leads to Faster, More Agile Performance
With a single view of data, 46 percent of respondents said they’d conduct analysis faster. Increased IT agility has emerged as another advantage, as cited by 43 percent of respondents.
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Enhanced Capabilities Bring “Time and Money” Bottom-Line Benefits
Another benefit of “single view” data capabilities is reduced costs, as cited by 39 percent of respondents. The same percentage feels that these capabilities would save time when accessing different data sources.
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Decisions Needed for Improved Operational Efficiencies
Two-thirds of respondents said they use data to make decisions about increasing operational efficiencies. Nearly three of five said they use it to track the behavior of current customers.
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Customer Identification, Security Operations Get Boost
Devo reports that 57 percent of respondents said they depend upon data to identify new customers. In addition, 56 percent said it helps them respond more effectively to security issues.
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With customer analytics spending projected to increase, organizations must devote at least some of the funding to resolve tech legacy and silo issues to maximize the value of related data.
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