Long before the term ‘big’ was first applied to data, organizations were struggling to make sense of all the information they had. Over the past 5 years, that focus on data has started to shift.
Today, the issue is no longer about owning the most data but rather about how to gain the most insight from it. In short, how to turn data into insights, and insights into real business advantage.
Data is everywhere, telling us everything. But do companies really know where to look? The reality is that turning mountains of data into valuable, practical and actionable business analytics is not nearly as straightforward as people believe.
To gain a more concrete understanding of the opportunities and challenges that data and analytics (D&A) presents, we commissioned FT Remark to survey 144 CFOs and CIOs from major corporations around the world (those with more than US$1 billion in annual turnover). All interviews were conducted in August 2013, with the responses aggregated and analyzed for use in this report.
This report provides a snapshot of the current state of D&A in major global organizations. The findings are compelling: 96 percent of companies surveyed admitted that they could do more with big data and make better use of analytics in their organization. Our report
addresses some of the challenges they face as they embed D&A within their organizations and navigate the cultural, managerial and operational changes that this will require.