The report “Getting More Than Data: Reaching insights useful from data and analysis” (Going beyond the data: Achieving actionable insights from data and analytics, in English), points out that 96% of entrepreneurs state that they recognize the value of big data, yet fail to deploy and manage their data effectively.
The survey was carried out by KPMG Capital, a platform created by KPMG that offers services with the aim of accelerating and promoting innovation through D&A (Data and Analysis). It was attended by 144 CFOs and CIOs from multinational companies with annual revenues of US1TP4Q1 billion or more.
In addition, according to the survey, 75% of executives find it difficult to make decisions regarding D&A, although 99% consider this topic important for business. "We live in an increasingly data-driven world where D&A has the potential to revolutionize the way in which we conduct and manage the operations and business of every company," says Frank Meylan, partner at KPMG in Brazil. "The challenge facing today's executives is to understand how to develop insights from data and transform them into tangible and reliable results", completes the executive.
Another finding of the research points out that 85% of the respondents are facing difficulties in analyzing and thoroughly interpreting the existing data. “This is the right moment for company executives to consider new approaches to D&A”, analyzes the KPMG partner.
Other research highlights:
· 80% of executives agree that speed is the main benefit of using D&A.
· 79% consider D&A essentially or very important to their current growth plans.
· Although the majority of respondents (56%) have changed their business strategies to meet the challenges related to the big data, 42% of executives admit that integrating data technology into existing systems and/or models is the biggest challenge.
· More than half of the respondents (54%) named the inability to identify what data to collect as the biggest barrier to implementing a successful D&A strategy.
· 85% consider implementing the optimal solution for analyzing and interpreting data as the biggest challenge.
"From social media-based analytics to predictive shaping, a variety of approaches are possible. As well as applications of models already developed and tested in various segments and industries, ranging from risk management and cost optimization to identifying new revenue streams . Being prepared to make these decisions can be the differential for the success of the companies", concludes Meylan.
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