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Reaping the rewards of big data

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In this document, learn about the features of Big Data and see how firms are leveraging big data for the benefits of their business
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© 2012 WIPRO LTD | WWW.WIPRO.COM 1 Reaping the Rewards of Big Data A Wipro and Outsourcing Center Study
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Page 1: Reaping the rewards of big data

© 2012 WIPRO LTD | WWW.WIPRO.COM 1

Reaping the

Rewards of Big Data

A Wipro and Outsourcing Center Study

Page 2: Reaping the rewards of big data

© 2012 WIPRO LTD | WWW.WIPRO.COM 2

Overview

Page 3: Reaping the rewards of big data

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The Context – Big Data Environment

The current business environment is impacted by proliferating data, shrinking

budgets and growing customer demands.

Big data can drive both operational efficiency and quality, leading to cost and

labor savings and a competitive edge. Leveraging big data can also help

companies streamline processes, fighting fraud and reducing errors.

Thus, business analytics is the key to obtaining actionable insights by

leveraging the huge amounts of data that flood into organizations of all sizes

and types.

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Features of Big Data

Big Data Spans

across..

Variety – extends beyond structured, to unstructured

data of all types

Complexity – processing of

data for meaningful

insights

Volume – Enterprises easily amass

terabytes and even petabytes of information

Velocity – data gets created in

real time, continuously

“Value” is another key

parameter - measured as

RoI delivered in tangible

and intangible terms

Identified as one of the top

10 technologies for 2012,

Gartner reports the size,

complexity of formats and

speed of delivery exceeds the

capabilities of traditional data

management technologies;

new technologies needed

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A Wipro and OutsourcingCenter Study

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Study objective and sample background

Wipro and Outsourcing Center performed a survey that looked at how

organizations are managing and analyzing proliferating data, and determined

how firms are leveraging big data for the benefit of their business.

While not a comprehensive picture of how these organizations are

approaching big data, the

survey results identify some general trends in this emerging area.

Survey respondents were from retail, financial services,

transportation/logistics, manufacturing, healthcare, telecommunications and

other industries.

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Survey Findings

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Survey Findings

In the future, the key challenge with big data will be its size and the fact that normal

software and processes can’t handle it well.

58 27

15

Are Big Data platforms essential to

manage future big data challenges? (%)

Yes No Not Sure

Organizations of all types are

challenged by the vast volume of data.

There is also an added complexity of

managing data variety, velocity.

However, opportunity the power of big

data too. There is a chance to leverage

the combination of enterprise data with

new age data forms to obtain better

quality insights about customers,

operations, etc.

More than half (57.6%) of the survey

respondents replied in the affirmative.

More than a quarter (27.3%) said big

data is not a challenge but this outlook

is likely to change in the future.

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Survey Findings

It’s important to identify what data is useful and have the appropriate methods and software

tools to process them and use them effectively for analysis.

Reporting data in real time and handling external data are the top two concerns of big data

management. 36.4% of the respondents faced each of these to challenges.

Most Common Big Data Related Challenges

33% of the respondents also reported that they were unable to analyze the data sufficiently due to

structural and other complexities.

27.3% respondents also felt that lack of skilled/trained personnel was a challenge and also found it

difficult to transform analyzed data into actionable insights.

It is also important that organizations evaluate every big data initiative thoroughly for the

business value it can deliver. Every big data initiative should have the potential to deliver

quantum business benefits in a sustained manner.

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Organizations need to look for alternates to handle big data generated from various

external and internal touch points that cannot be gracefully stored, processed and analyzed

using the existing IT infrastructure due to volume, variety and complexity.

55 27

14 4

How long has your organization had a

big data strategy in place? (%)

<1 year 1-3 years 3-5 years 5-8 years

42.4% are either just considering a

strategy or don’t have a strategy, nor

considering one.

In times to come, organizations will

look for ways to cost-effectively store

and process all the sources of data to

develop insights, and this will lead them

to Big Data Platforms.

Only 4+% (4.5%) of the surveyed

respondents have had a strategy in

place for a prolonged time period.

Survey Findings

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Big data allows organizations to capture data and iteratively discover what’s within it by

using multiple models and even by making early decisions.

73% of the respondents feel that the ability of a big data strategy to drive operational efficiencies is the

greatest benefit.

Key Benefits of Implementing a big data strategy

50% respondents also value the ability to gain a competitive edge and get exposure to new growth

opportunities

Driving Innovation and boosting productivity were the next most popular choices for the benefits of

a big data strategy with close to 50% respondents choosing each.

New forms of data provide new insights that can potentially transform the way businesses

are run.

Survey Findings

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In order to make the big data strategy implementation process smoother, organizations

need to identify useful data from various sources, have the appropriate methods and

software tools to process, and use them effectively for analysis.

45.5% respondents feel that a lack of measureable RoI is the biggest roadblock to adopting and

implementing a big data strategy

Biggest Roadblocks of Implementing a big data strategy

Privacy concerns and internal resistance to cultural changes were stated by 18% as major

roadblocks to big data management

An outside service provider can be a big help in this regard, since providers can bring

consulting expertise to help organizations identify the right business case for implementing

a big data strategy.

27.3% of the surveyed organizations feel that the task of reengineering the current strategies and programs

are too daunting and time consuming.

Survey Findings

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Key Takeaways

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Key Takeaways – Importance of Big Data

Leveraging big data can enable businesses of all kinds to…

• Make large volumes of information transparent and usable

• Drive operational efficiencies and help create process improvements, leading to greater operating margins

• Collect very granular information to reveal variability in customer buying patterns, personnel productivity and more

• Gain actionable insights that lead to better and more informed management decisions

• Glean important information that can help determine product and service improvements

• Improve customer segmentation, leading to more tailored marketing efforts and improved cross-sell and up-sell success

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Key Takeaways – Wipro Advantage

• Organizations need the ability to disseminate, understand and ultimately benefit from increasing volumes of data. These organizations will be in a position to win customers, gain competitive advantage and succeed based on their ability to leverage their data assets.

• In order to fully leverage the massive – and increasing – amount of data flooding in to their enterprises, organizations should adopt a Big Data strategy.

• Wipro offers a full range of big data consulting and implementation services that can help organizations of all types and sizes harness the power of exponentially increasing amounts of data for competitive advantage and to drive organizational efficiency.

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About Wipro Council of Industry Research

Wipro set up the Council for Industry Research, comprised of

domain and technology experts from the organization, to address

the needs of customers. It specifically surveys innovative

strategies that will help customers gain competitive advantage in

the market. The Council, in collaboration with leading academic

institutions and industry bodies, studies market trends to help

equip organizations with insights to facilitate their IT and

business strategies.

For more information on the Research Council visit

www.wipro.com/insights or mail [email protected]

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About Wipro Technologies

• Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” – helping clients create successful and adaptive businesses. A company recognised globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has over130,000 employees and clients across 54 countries. For more information, please visit www.wipro.com

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Thank You

© Wipro Limited, 2012. All rights reserved.

For more information visit www.wipro.com

No part of this document may be reproduced in whole or in

part without the written permission of the authors.

Wipro is not liable for any business outcome based on the

views presented in this document. For specific

implementation clients should take advise from their client

engagement manager.


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