Security and privacy concerns are key challenges to the use of big data in mobile retail, according to software firm SAP's on-site survey of attendees at the 2014 Mobile World Congress in Barcelona

Big data is an IT industry term for the huge amounts of largely unstructured data that businesses generate about their customers. A number of vendors including SAP have developed analytical systems to help firms leverage their big data for customer relationship management.

Amongst the 300 mobile industry insiders who responded to SAP's survey, 36 percent said real-time offers will drive the most value from big data. In addition, 27 percent said better customer segmentation will be the greatest generator of value from big data in 2014.

However, 38 percent of respondents thought security and privacy concerns would be the main challenges preventing telecoms operators and enterprises from fully unlocking the business potential of big data, and 28 percent thought lack of big data expertise would be the main challenge.

"The challenge is how to apply analytics for deeper consumer insight, while maintaining the highest levels of security and individual privacy," Diarmuid Mallon, SAP's director of global mobile marketing solutions, said in a statement.

Asked about the "killer application" for mobile payments, 31 percent selected mobile top-up, while 25 percent named retail payments as the application that will drive the widespread adoption of mobile payments among consumers.

Banks are the key group to lead mobile payment networks, said 26 percent of survey respondents, while existing online payment providers such as PayPal, Amazon or Apple iTunes are expected to be m-payments front-runners by 25 percent of respondents.

SAP said that 19 percent of respondents thought a consortium of telecoms operators are in the best position to provide successful m-payments platform, followed by 17 percent who thought credit card schemes are best positioned to lead mobile payments.

To see an infographic for SAP's survey, visit http://www.slideshare.net/SAPMobileServices/race-for-big-data-insight-lte-real-time-offers-mobile-commerce.