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The Deciding Factor: Big Data & Decision Making
This study by Capgemini and the Economist Intelligence Unit report is based on surveys and interviews with over 600 C-level executives, senior management and IT leaders worldwide
It concludes that Big Data has improved businesses' performance, on average, by 26 per cent and that the impact will grow to 41 per cent over the next 3 years.
- The majority of companies (58 per cent) claim they will make a bigger investment in Big Data over the next three years.
- Two-thirds of executives consider their organizations are ‘data-driven’
- Over half (54 per cent) say that management decisions based purely on intuition or experience are increasingly regarded as suspect
- The majority of executives (58 per cent) rely on unstructured data analysis including text, voice messages, images and video content.
- Although 42 per cent of executives say that data analysis has slowed down decision-making, the vast majority (85 per cent) believe that the growing volume of data isn’t the main challenge, but rather being able to analyse and act on it in real-time.
- As organizations increasingly look to the output from analytics to automate decision making, data quality is seen as a major hurdle
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