Secondly, enterprise data hubs could encourage the creation of insight-driven products and services. For example, an enterprise data hub built with Cloudera's Enterprise solution enabled a US personal insurance company to develop predictive models. These models are used to customise the company's products according to individual behaviours and risk profilesof its customers, as well as to better tune the pricing of insurance plans.
Finally, enterprise data hubs could be used for security, risk and compliance. "For instance, banks could use an enterprise data hub to create graphs and charts that provide a clearer view of how money flows between accounts, making it easier to track and detect money laundering activities," said Reilly.
A recent study by SANS and Cloudera found that organisations are coming under increased compliance pressure, with 83 percent reporting that their big data systems must comply with one or more regulatory standards.In response to this, Cloudera ensured that its enterprise data hub is fully compliant with the Payment Card Industry (PCI) Data Security Standards. This enabled MasterCard to host PCI datasets on the platform and potentially integrate with other internal systems to harness the value of big data.
"As the world becomes increasingly interconnected, CIOs will be faced with a vast amount of data that needs to be used for competitive advantage. To do so, they should leverage enterprise data hubs to capture new data, develop new products or improve their service based on insights, as well as improve security and compliance," concluded Reilly.
 The study polled 206 respondents from the government, banking and finance, IT, telecom and healthcare industries in the fourth quarter of 2014. It aimed to identify how often organisations are utilising big data systems, the associated security challenges, and how risks can be easily mitigated.
Sign up for CIO Asia eNewsletters.