Study: Data age is here but many aren’t prepared

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While most executives believe the data boon that is expected over the next five years will be good for their business one new report indicates many simply aren’t ready for what that amount of value means to their business.

Take for example IT brands; while many are set up the best to handle an influx of data they say more than half of their current data (66%) is ‘dark’ – meaning it is unknown, unused or untapped. That is 10% more than last year. What’s more, just over half (57%) say data is already growing at rates with which they are unable to keep up.

“The Data Age is here. We can now quantify how data is taking center stage in industries around the world. As this new research demonstrates, organizations understand the value of data, but are overwhelmed by the task of adjusting to the many opportunities and threats this new reality presents,” said Doug Merritt, President and CEO, Splunk. “There are boundless opportunities for organizations willing to quickly learn and adapt, embrace new technologies and harness the power of data.”

Other interesting findings from the Splunk study include:

â–ª 81% say data is crucial to their overall success and 75% say it’s necessary for innovation
â–ª 47% say their business ‘falls behind’ in rapid data growth
â–ª 62% of health orgs say ‘at least half’ of their data is dark

More data from Splunk’s Data Agereport can be found here.

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ABOUT THE AUTHOR

Kristina Knight is a freelance writer based in Ohio, United States. She began her career in radio and television broadcasting, focusing her energies on health and business reporting. After six years in the industry, Kristina branched out on her own. Since 2001, her articles have appeared in Family Delegate, Credit Union Business, FaithandValues.com and with Threshold Media.