Digital innovation in business is more difficult without Big Data Analytics

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Today every business is a digital business" as explained in "Big Band Disruption", the book written by Larry Downes and Paul Nunes, which analyses the origins, economic aspects and anatomy of digital innovation: this message is now all the more widespread and strongly felt by companies, which can survive only by really understanding its importance. 
 
One of the most profound and pervasive changes in this field is represented by Big Data, which can create valuable information not only for big organisations but also for SMEs. Big Data are precisely the focus of the sixth edition of the study conducted by the Observatory of Big Data Analytics & Business Intelligence of the School of Management of the Polytechnic University of Milan, which highlights the strategic value of Analytics methods in enterprises. 
The study, which involved more than 600 CIOs, IT Managers and Analytics Managers from small, medium-sized and large companies, confirms the expansion of the Italian Big Data market, for a total value of 1.3 billion this year (+26% compared to 2017), confirming the positive trend of the last three years. However, the gap remains between major companies, which account for 88% of total expenditure, and SMEs, representing only 12% of the market. 

In addition, with the advent of Machine Learning and Deep Learning techniques, analytics methodologies are also changing. This year a growing number of entities has recruited Analytics figures within their organisations: for instance, 46% of large companies have hired a Data Scientist, 42% a Data Engineer, 56% a Data Analyst. However, despite the rising number of enterprises with a mature Data Science governance structure, more than half still use a traditional organisational model.
 
The large companies that have already launched projects in this field are now reaping the benefits of their efforts and this prompts them to keep investing, whereas the others acknowledge that this is the time to take steps and perceive the urgent need to do so. Nonetheless, in 2018 only 7% of SMEs have launched Big Data Analytics projects and 10% have little knowledge of the advantages that Big Data can bring. Only a little less than a third of companies is aware of these and is advanced also from a technological point of view.

The Big Data market is continuously changing: according to the study, investments in digital innovation will continue to grow, but companies and operators will have to keep pace with innovation to survive.

255 HEC srl has been working on these concepts and technologies for over 5 years, developing different products and a platform that can bring companies rapidly in touch with this future, which is now our present. If you are interested in learning  how you can quickly take advantage of our experience, research and platform, please write to info@255.it