5 Big Decisions Driving Global Data and Analytics
Published August 7, 2016 10:10 AM
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Updated August 8, 2016 10:05 AM
1 Min Read
PwC recently released its 2016 Big Decisions Survey, focused on how enterprises around the world are limiting risk and leveraging data to make the big decisions that will give them a competitive edge. With insights across 15 industries, the survey of more than 2,100 company decision-makers and leaders found these five facts. This story originally appeared on INN sister brand Information Management.
There are three most important Big Decisions facing executives.
Launching new products and services (31%); entering new markets (17%); and investing in IT (15%).
Highly data-driven companies are ready to compete.
Companies are looking to grow in new markets and a large portion of them (48%) describe themselves as highly data driven.
Executives have great ambition to increase decision speed and sophistication.
Executives want decision-making to be faster, especially in banking, insurance, and healthcare. But decision-makers say theres even more work to be done on sophistication.
Companies are beginning to understand the power of forward-looking predictive and prescriptive analytics.
But there are still a surprisingly low number (29%) of companies who use predictive analytics.
A significant role for machines is emerging.
41% of leaders say Big Decisions will require analysis using machine algorithms.