20 Nov Forging new corporate capabilities for the long term in a big data
The tone of corporate conversations about big data continues to shift from initial excitement to expecting long-term business impact.
Over the past four years, executives have not only become better educated about the technology behind big data, but have fully embraced the relevance of data to their corporate strategy and competitive success. It could be said that most companies are experiencing their “data adolescence”, increasingly rising to the challenge of executing and delivering against the promise and potential of big data.
What are the hallmarks of this current stage of evolution, and what does the path to “data adulthood” look like from here?
Key highlights of the research include the following:
- Since 2011, a significantly larger proportion of companies have come to regard and manage data as a strategic corporate asset
- Strategic data management is correlated with strong financial performance
- Data-strategy ownership has been elevated and centralised, while engagement and demand from the business is at an all-time high
- Data initiatives have moved from theoretical possibilities to focus on solving real and pressing business problems
- Technical challenges associated with quality, quantity and security persist
- The future of big data is less about volume and velocity, and more about the value that the business can extract from it
Read here the complete insights from The Economist Intelligence Unit!
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