Tuesday, September 16, 2014 by Lee Mannering
Ninety-two percent of executives from companies that are applying big data to their businesses said they are satisfied with the results, according to new research by Accenture. Eighty-nine percent of respondents rated big data as “very important” or “extremely important” to their businesses’ digital transformation, and 82 percent agreed big data provides a significant source of value for their companies.
According to the research, executives said their companies use big data moderately or extensively to identify new sources of revenue (94 percent), retain and acquire customers (90 percent), and develop new products and services (89 percent). This is also where the research indicates many enterprises are seeing big business impacts. Executives noted extensive tangible business outcomes from big data in finding new sources of revenue (56 percent), new product and service development (50 percent), winning and keeping customers (47 percent), and enhancing the customer experience (51 percent).
Asked where they expect big data to have the biggest impact on their organization in the next five years, 63 percent of executives said “customer relationships”, 58 percent mentioned “product development”, and 56 percent said “operations.”
During our Fresh Summit 2014 Convention & Expo, October 17-19 in Anaheim, California, we’re taking a look at big data in a session titled “Putting Predictive Modeling to Work for You,” wherein participants will learn more about predictive modeling/predictive analytics and examine companies that have created models that drive increased sales, quality and efficiency.
If you were planning to join us in Anaheim for Fresh Summit 2014, you can get complete details on the event’s program and registration options by visiting the PMA website.