By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    football analytics
    The Role of Data Analytics in Football Performance
    9 Min Read
    data Analytics instagram stories
    Data Analytics Helps Marketers Make the Most of Instagram Stories
    15 Min Read
    analyst,women,looking,at,kpi,data,on,computer,screen
    What to Know Before Recruiting an Analyst to Handle Company Data
    6 Min Read
    AI analytics
    AI-Based Analytics Are Changing the Future of Credit Cards
    6 Min Read
    data overload showing data analytics
    How Does Next-Gen SIEM Prevent Data Overload For Security Analysts?
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Companies Can Do More With Big Data
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Companies Can Do More With Big Data
AnalyticsBig Data

Companies Can Do More With Big Data

Roman Vladimirov
Last updated: 2013/11/15 at 9:00 AM
Roman Vladimirov
4 Min Read
Image
SHARE

ImageRecent research makes it clear that big data – and by association, all of the possibilities it represents – is and will continue to be one of the most important tools for countless businesses and organizations.

ImageRecent research makes it clear that big data – and by association, all of the possibilities it represents – is and will continue to be one of the most important tools for countless businesses and organizations. According to a study stemming from the American Management Association that surveyed about 790 executives in various sectors, data and analytics are currently quite valuable to 58 percent of companies. In a similar vein, 82 percent of those questioned stated that these tools will become important at some point in the next five years. Compliance-related accountability, consumer needs and risk management requirements are just a few of the reasons cited regarding why they are valuable.

Difference between stated importance and operational reality regarding data
However, the AMA survey also revealed a curious disparity between that confirmed importance and the day-to-day realities of most businesses in terms of the implementation and actionable use of big data and analytics. For example, 49.3 percent of the study’s respondents claimed that their company culture stood in the way of deriving the best possible value from such business intelligence initiatives, while a significant majority – 67 percent – said that they lacked the capabilities to realize their analytics needs and desires. 

Company leaders who look at their own organization’s operations and come to a similar conclusion – that the in-theory value of analytics greatly eclipses how they are putting it to use on a daily basis – would do well to consider how they might escape this rut. Adopting the right BI software platform to handle the data and empowering the staff necessary to make such a project work is one of the best ways this can be accomplished.

More Read

football analytics

The Role of Data Analytics in Football Performance

7 Mind-Blowing Ways Smart Homes Use Data to Save Your Money
Data Analytics Helps Marketers Make the Most of Instagram Stories
What to Know Before Recruiting an Analyst to Handle Company Data
Tackling Bias in AI Translation: A Data Perspective

Skills-related needs
The AMA’s research also pointed out that approximately half of the aforementioned executives had middling to low confidence in the analytics-related abilities of their fellow executives and the rest of their staff, particularly in the essential areas of critical thinking and data analysis. 

Executives can benefit
Business 2 Community reported that even in some companies that were using BI and analytics, firms’ executives were not being provided with BI that they could successfully use in new and viable ways, and that this was especially true regarding data culled from social media.

Considering the ubiquitous presence that Facebook, Twitter and other major social platforms have established in the business and social spheres of society, companies that do not measure and use social data are exposing themselves to considerable disadvantages. This course of action could be reversed with the right BI software and well-informed staff.

image: Big data/shutterstock

Roman Vladimirov November 15, 2013
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

football analytics
The Role of Data Analytics in Football Performance
Analytics Big Data Exclusive
smart home data
7 Mind-Blowing Ways Smart Homes Use Data to Save Your Money
Big Data
ai low code frameworks
AI Can Help Accelerate Development with Low-Code Frameworks
Artificial Intelligence
data Analytics instagram stories
Data Analytics Helps Marketers Make the Most of Instagram Stories
Analytics

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

football analytics
AnalyticsBig DataExclusive

The Role of Data Analytics in Football Performance

9 Min Read
smart home data
Big Data

7 Mind-Blowing Ways Smart Homes Use Data to Save Your Money

7 Min Read
data Analytics instagram stories
Analytics

Data Analytics Helps Marketers Make the Most of Instagram Stories

15 Min Read
analyst,women,looking,at,kpi,data,on,computer,screen
Analytics

What to Know Before Recruiting an Analyst to Handle Company Data

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI and chatbots
Chatbots and SEO: How Can Chatbots Improve Your SEO Ranking?
Artificial Intelligence Chatbots Exclusive
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?