Despite the flood of date that holds a great a potential for businesses,  the IT professionals and businesses in India and in other countries confront several obstacles  to extract strategic value from their data, according to a study by Cisco.

According to the report, IT managers are confronted with several challenges to adopting Big Data solutions with security being on top their list. Then come budget and staffing.

“More than one in four respondents globally (27 percent) said data security and risk management is a major concern. They cited the sheer volume of data, the number of ways to access data, and lack of budget for security as the top reasons why securing data in Big Data projects is such a challenge”, the report observes.

Security concerns were most prevalent in China (45 percent), India (41 percent), the U.S. (36 percent) and Brazil (33 percent).

Together, lack of budget (16 percent) and lack of time to study Big Data (14 percent) are cited by a third of respondents as their main obstacles.

Almost one in four (23 percent) said the lack of enough IT staff (13 percent) or Big Data staff expertise (10 percent) as  main issues, especially in Japan (31 percent) and Brazil (30 percent).

More than half of the IT respondents believe Big Data will affect increase their organizations’ IT budgets now and in the future based on technology, personnel and expertise requirements.

Over half the respondents expect Big Data strategies to increase their IT budgets in 2013.

Nearly three out of five (57 percent) say Big Data will increase their budgets over the next three years.

Over four out of five surveyed (81 percent) said all or some Big Data projects will require cloud computing capabilities. This was especially true in China (78 percent) and India (76 percent).

The study says that while most companies are collecting, storing and analyzing data, the report reveals that many are struggling with both the business and IT challenges of Big Data. For example, while 60 percent of survey respondents globally agreed that Big Data will help improve decision making and increase their competitiveness, only 28 percent report they are currently generating strategic value from their data.

82 percent of respondents in India agreed that Big Data will help countries improve decision making and help them to be more globally competitive, globally 60 percent of the respondents believed so.

4 in 5 IT managers in India (83 percent) agree that Big Data will be a strategic priority for their companies in 2013 and over the next five years as well compared to 68 percent globally.

Big Data Expected to Spur Investment in IT:  69 percent of IT Managers surveyed in India predict Big Data will increase budgets over the next three years (Global: 57 percent).

Data security (41percent), lack of time to study Big Data (19 percent) and lack of solutions that fit need & expertise (11 percent) were the top 3 concerns cited by Indian respondents that are hindering Big Data adoption.

Globally, 60 percent of survey respondents said they believe Big Data can help businesses and countries to improve decision making and global competitiveness, with respondents in China (90 percent), Mexico (85 percent), India (82 percent), Brazil (79 percent) and Argentina (78 percent). the most confident in Big Data project benefits.
  
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