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What's the Big Deal about Big Data?
 

What's the Big Deal about Big Data?

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The exponential growth in data means the old ways of processing it no longer ...

The exponential growth in data means the old ways of processing it no longer
work. Data analysts for accounts payable or financial shared services can’t
get meaningful outcomes from the same manual efforts they have used in the
past. There is simply too much information. You need specialized tools and
automated processes that can standardize data from multiple systems,
validate its quality and analyze it as a seamless whole.

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    What's the Big Deal about Big Data? What's the Big Deal about Big Data? Document Transcript

    • The exponential growth in data means the old ways of processing it no longer work. Data analysts for accounts payable or financial shared services can’t get meaningful outcomes from the same manual efforts they have used in the past. There is simply too much information. You need specialized tools and automated processes that can standardize data from multiple systems, validate its quality and analyze it as a seamless whole. Big data is an $18 billion market on its way to becoming $50 billion in 5 years.* How Big is Big? Key Systems Usage 50 $ B Expected market size in 5 yrs 1,000 gigabytes = 1 terabyte 1 million terabytes = use SAP or Oracle 1 exabyte 1 billion terabytes = More than 80% of global A/P and financial shared services teams participating in the COMPASS Benchmarking Survey use SAP or Oracle as their ERP platform, up from 56% just 5 years ago. 44 And It’s Growing 31 Data is growing at a 40% compound annual rate globally. It is expected to reach nearly 45ZB by 2020. Approximately 78% of companies surveyed use a global ERP platform, and 83% use a global chart of accounts. 22 15 1 2 2.5 ‘08 ‘09 ‘10 3 ‘11 4 ‘12 4.5 ‘13 5 ‘14 8 ‘15 use a global ERP instance. 11 ‘16 ‘17 ‘18 ‘19 ‘20 are asked to deliver Big Data analytics Source: Oracle 2012 Data in zettabytes (ZB) Top 3 Concerns About Using Big Data Software 38% Over 70% of the respondents say customers are asking them to deliver "Big Data" analytics. Source: APEX Analytix 2012 Compass Benchmarking Survey 33% 31% Note: Multiple responses allowed Base: 417 respondents at organizations using or planning to deploy data analytics, BI or statistical analysis software. Data: InformationWeek 2013 Analytics, Business Intelligence and Information Management Survey of 541 business technology professionals, October 2012 “For global financial services and A/P teams, success with Big Data rests on a foundation of standardization, documentation and automation.” – Paul Blaser, Dir, Data and Client Delivery, APEX Analytix *SOURCE: Jeffrey F. Kelly, Wikibon principal research contributor **SOURCE: MGI and McKinsey's Business Technology Office Copyright © 2013 APEX Analytix. All rights reserved. www.apexanalytix.com