CIOs Fall Short in Reaping Gains From Big Data
Agenda Driver
Nearly seven in 10 survey respondents say data and analytics (D&A) is either “crucial” or “very important.”
Top Benefits of D&A
Conducting analysis with greater speed: 79%, Identifying insights that would have otherwise been missed: 65%, Increasing sophistication: 59%, Saving costs due to improved efficiency: 58%
Budget Item
71% say they plan to spend more than 5% of their sales on D&A over the next two years.
Unexploited Potential
96% say that they could do a better job deriving value from D&A, and 56% say at least some of the resulting benefits “left on the table” could be significant.
Biggest Challenges of Data Capture
Integrating data tech into existing systems and business models: 42%, Getting enough capacity to capture all data from every area of business: 36%, Identifying what data to collect: 26%
Learning Curve
75% say there’s at least some level of difficulty in making decisions based upon D&A.
Flexible Plan
56% say they’ve changed their business strategy to meet the challenges of D&A.
How Global Organizations Have Changed Business Strategies to Benefit D&A
Increased capacity via hardware or personnel: 47%, Attained management buy-in for big data collection and analysis: 39%, Honed parameters for data collection: 27%
Top Steps Taken to Help Integrate D&A
Upgraded IT systems: 53%, Improved data collection processes: 51%, Trained management to use data in decision making: 45%, Trained staff in D&A: 39%, Recruited for D&A: 38%
