Unleashing the Power of Data and Analytics
Companies that have embraced data and analytics strategies are reaping the benefits of revenue growth, increased operating margins and risk profiles.
23% of the C-level executives in the report have an analytics strategy that encompasses their entire enterprise, compared with only 16% of respondents in a similar EY and Forbes study last year.
70% of the leaders report a seismic shift in their organization in the form of overhauled business strategies and how they compete in their markets.
66% of the organizations that consider their data and analytics abilities market-leading had revenue growth of 15% or more, while 63% reported operating margin increases of 15% in 2016.
60% of executives who said their data and analytics efforts are market-leading also improved their risk profiles.
Over the next two years, 50% of the respondents plan to invest at least $10 million in data and analytics resources, while 85% of the executives in leading companies expect to spend that amount.
53% of executives who said analytics completely altered their strategy want to collaborate with partners to leverage market position and enhance the customer experience. 52% of them see potential for selling the insights from advanced analytics to existing and new customers.
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