Despite big data being an increasing area of focus, just 22 per cent of Australian and New Zealand IT professionals surveyed in ISACA’s 2013 IT Risk/Reward Barometer are confident their enterprise has a policy regarding how it manages big data. Instead, almost two-thirds (61 per cent) of respondents said their company has no policy around big data – and a further 17 per cent of Australasian IT professionals were unsure.
Furthermore, just 5 per cent of IT professionals say their enterprise is very prepared to ensure effective governance and privacy of big data. The majority, 45 per cent, believe their organisation is “adequately prepared” and one-quarter (25 per cent) said they are “not prepared at all”. Yet, information is currency and enterprises must not only protect and manage it, but also use it to drive business value. Conducted by ISACA, a global association of 110,000 IT security, assurance, governance and risk professionals, the IT Risk/Reward Barometer asked 2,013 IT professionals about the risks and rewards of key trends, including big data. Big data refers to the exponentially growing bytes of information that are created and collected in today’s digital world, often with datasets so large they require specialist software tools to capture, store, manage and analyse the data.