This IDC study describes IDC's Big Data and Analytics (BDA) MaturityScape and its application for financial services firms. It identifies and discusses the stages, dimensions, outcomes, and actions that firms should consider to effectively develop their BDA competency. The explosive growth in data, new data sources, and increasingly powerful analytics tools can help firms discover, develop, and test actionable ideas across the firm. There are challenges and opportunities in BDA, and firms need to have a solid plan in place to navigate technology alternatives, improve business processes, and hire and develop the staff with the right combination of technology and business skills. IDC's Big Data and Analytics MaturityScape is a framework of five stages, critical measures, outcomes, and actions that organizations should consider to effectively advance along the successive stages of BDA competency.
"IDC's Big Data and Analytics MaturityScape is a maturity model that enables firms to assess their BDA competency, establish short- and long-term business goals, and prioritize technology and staffing decisions and deliver new business value to the firm," "said Bill Fearnley, research director, IDC Financial Insights. "This IDC MaturityScape can help firms evaluate their BDA competency across business units and IT, develop a road map that enables collaboration, and discover, develop, and deploy new and actionable business and investment ideas."