A market that in Italy is worth over 1 billion euros and grew, in the course of 2017, by 22%: it is that of Big Data, according to data from Politecnico di Milano. How do Italian companies deal with change?
Big Data Analytics can no longer be done without: that is to say, it is not only those who “fiddle” with the industry since its inception, but the Big Data Analytics & Business Intelligence Monitoring Center from the School Management of Politecnico di Milano. The research data leave no doubt: 43% of Italian CIOs see Business Intelligence, Big Data and Analytics as the main investment priority in 2018. The level of awareness of the fundamental function of BD also increases in our country: almost one in two companies has added one or more data scientists into its workforce, going from 31% in 2016 to 45% in 2017.
If you think you are up to date on the strategic importance of Big Data do not go further: below is an example of how Social Listening and the analysis of Big Data can be used to monitor the contextual impressions to the launch of a product. Click on the button below to download your copy of the report.
Who uses Big Data in Italy and why
According to the report, there are two main factors that have led to increased investments in BD: on the one hand, there are large companies, now aware of the opportunities that data analysis offers; on the other hand there is an increase in interest that is growing exponentially as regards SMEs.
The first sore point of the report, in fact, highlights the clear predominance of large companies: 87% of the total investment in the sector is the prerogative of large businesses, while small and medium-sized businesses stop at 13%. On the other hand, the resources used by SMEs have grown by 18% in a year.
But what are the areas of intervention that a company takes into consideration in the light of a new BD Analytics strategy? The largest portion of spending, 42% of the total, is dedicated to software: tools and applications to acquire, view and analyze data, and / or databases for different purposes, from business intelligence to the user experience. In second place are the system integration services, with 33% of the investments dedicated to the customization of apps and software, to the redesign of processes, to integration with company systems. Finally, 25% is used to set up or improve hardware-enabling infrastructures to optimize the computing and storage capacity of the data themselves.
Italian companies and Big Data: what are the objectives?
Despite the steps forward, the process of transforming Italian companies into big data enterprises is long and complex: only 17% of companies have reached a good level of maturity, while 26% are still in the process of reconfiguration. Moreover – and here is the real gap – 55% of companies are anchored to the traditional business model and are likely to remain cut off from the digitalisation of their sector: here the acquisition, processing, and analysis of data are still carried out “compartmentalized”, without an overall view that BD Analysis can provide instead.
But what has driven the most innovative companies to embrace new data analysis strategies? According to the monitoring center, the objectives of the companies are:
- improvement of customer engagement (70%);
- the increase of sales (68%);
- the reduction of the time to market (66%);
- the expansion of the offer of new products and services and the optimization of the current offer in order to increase margins (64% each);
- cost reduction (57%);
- the search for new markets (41%).
Social Media and Big Data, an unbreakable link
Despite being one part of the greater set of Big Data, the data coming from Social Media have the ability to influence each of the aspects listed above. The pervasiveness of Social Media in our societies means that Social Big Data are, by their very nature “spontaneous” and statistically representative. The quantitative aspect, in fact, integrates the qualitative perspective: a message expressed through a Social Network can contain a judgment, a criticism, a desire, a user’s need. Monitoring these data and processing them with the right technologies can be essential to achieve the objectives that businesses are set but also to bring out new incentives that make the processes of acquisition and customer loyalty more efficient.
Do not let these words fly away with the wind! Below is an example of how Social Listening and Big Data analysis can be used to monitor contextual impressions when a product is launched. Click on the button below to download your copy of the report..
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