Even though there has been a lot said in the past few years about big data and how it is going to change the way businesses operate, Indian CIOs aren't yet biting.
According to the CIO Mid-Year Review 2014 survey, 26 percent of Indian CIOs believe that big data is an "overhyped technology".
That said, it must be noted that the number of CIOs who believe big data is overhyped is coming down. Last year, 33 percent of Indian CIOs said big data is an overhyped technology, that's 7 percent higher than this year.
Surprisingly, it's CIOs in the services industry who most believe that big data is overhyped, compared to their peers in other industries. The services sector has plenty potential big data use cases given that many of its industries are customer facing, where social media plays an important role. The 2014 survey revealed that 30 percent of Indian CIOs in the services sector believe that big data is definitely an overhyped technology. In 2013, that number was 25 percent.
As much as 29 percent of CIOs in the healthcare and pharma sector believe that big data is an overhyped technology. That's fewer than last year's number of 36 percent.
Interest among Indian CIOs in the IT/ITeS sector regarding big data has gone up this year compared to in 2013. Last year 44 percent of Indian CIOs from the IT/ITeS sector thought big data was an over hyped technology, this year the number stands at 29 percent, a 15 percent jump.
CIO research shows that 32 percent of CIOs belonging to companies registering revenues between Rs 50 crore to Rs 499 crore, say big data is overhyped. As much as 25 percent of CIOs working for companies whose revenues range between Rs 500 crore to Rs 1,999 crore, also say that importance of big data is exaggerated.
The high numbers of CIOs who believe big data is hype probably has to do with the high number of Indian enterprises who don't distinguish 'big data' from 'data' (in that they need distinct tools and management approaches for higher volume, complexity and dynamic data processing)
According to CIO research, 48 percent of CIOs say that their organizations do not distinguish big data from data. That said, 32 percent of CIOs said their organizations do make the distinction, and the rest were not sure.
Only 8 percent of Indian CIOs use tools or architecture in their production environments to cope with big data. Of those CIOs, 34 percent use real time event processing tools, 32 percent NoSQL Data Store, and 27 percent use Hadoop Distro.
A full 37 percent of Indian CIOs say that their companies have no plans as of now to use big data technology. Another 62 percent of Indian CIOs say that big data is 'not on their tech road map'.