There is a marked difference between the Datarati and Data-laggards in terms of data quality. Nearly two-fifths (38%) of Datarati say that they never or rarely find misleading or inaccurate information within their data sets, while only about a fifth (19%) of Data-laggards said this.

A third (33%) of the Datarati have complete trust in big data analysis when making executive decisions, compared with only 17% of Data-laggards.

Partnerships Remove Roadblocks

Company aspirations around big data remain high despite the presence of inaccurate data. Overall, adoption of big data solutions are expected to transform businesses through providing closer engagement with customers (55%), better engagement within internal teams (54%) and supporting greater employee productivity (54%).

“The majority of executives anticipate ROI soon, but realize that many organizational silos need to be broken in order to achieve that vision.” said Saunders.

Over half (55%) of respondents in the study declare that they lack strong enough processes to ensure true data quality. To this end, 33% of respondents plan to hire more data engineers over the next 12–24 months, and 30% will also be looking to hire data governance developers and data scientists.

Partnering with external experts is one way executives hope to make progress. The study showed 30% of respondents plan to partner with external providers to bring big data projects up to speed in the next 12 months. Three-fifths (59%) of respondents would choose to contract with two suppliers working in partnership, where one brings deep industry knowledge and the other is a specialist analytics firm.

Top 2015 Information and Communications Technology Priorities

1. Big data solutions

2. Real-time business or customer analytics

3. Achieving single view of customer

4. Understanding product performance

5. Web analytics/Location specific insights

“To make the most of the opportunities that big data and data analytics presents, organizations need to make the right investments in their big data ecosystem - people, culture, systems and processes, as well as good partnering choices,” said Saunders

“We’ve seen this first hand as enterprises apply and use solutions that incorporate Xerox’s data analytics research to provide better real-time information, understand complex relationships within data and predict future outcomes based on past data, in industries ranging from healthcare to customer care to transportation.”

For instance, Xerox is working to use big data to provide transportation departments such as the City of Los Angeles with solutions to efficiently manage parking spaces in the downtown area of the city, using big data from sensors in the ground. The same technology is being implemented by the transportation department in Washington, D.C.

Xerox technology can read license plate numbers at toll booths, adjust parking meter rates on demand and detect the number of passengers in a vehicle cruising in HOV (high occupancy vehicle) lanes.

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About Xerox

Xerox is a global business services, technology and document management company helping organizations transform the way they manage their business processes and information. Headquartered in Norwalk, Conn., we have more than 140,000 Xerox employees and do business in more than 180 countries. Together, we provide business process services,  printing equipment, hardware and software technology for managing information -- from data to documents. Learn more at www.xerox.com .