Few Enterprises Using Big Data Analytics

By Karen A. Frenkel  |  Posted 02-17-2014 Email

Many executives say their companies are not equipped to make the most of big data, according to a survey by management consulting firm Bain & Company. Participants were executives from more than 400 companies worldwide and mostly from enterprises with revenues of at least $1 billion. "We found…an elite group that puts into play the right people, tools, data and intentional focus," say authors Rasmus Wegener and Velu Sinha. These select companies are already using analytics insights to change operations and to improve products and services. They are twice as likely to be in the top quartile of financial performance within their industries, three times more likely to implement decisions as intended, and five times more likely to make decisions faster. These companies see themselves as more effective in every aspect of analytics, including capturing, collecting and storing data, and in parsing and drawing insights from it, according to the authors. To access the full report, "Big Data: The Organizational Challenge," click here.

Karen A. Frenkel writes about technology and innovation and lives in New York City.


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