Data Analytics Is Fueling Business Growth
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Essential Element
67% of business decision-makers surveyed said data analytics is either "somewhat" or "extremely" important to their company, and 70% said it will be important three years from now. -
Growth Driver
29% said that data analytics will contribute to more than 10% growth for their business this year, and 45% said it will do so three years from now. -
Consumer-Minded
80% of the respondents said data analytics is needed to better serve customer needs. -
ROI Delivery
76% said analytics plays an important role in increasing sales and revenue. -
Inspiration Engine
71% of the decision-makers surveyed said analytics is essential when creating new products and services. -
Go-To Market Strategy
71% think that analytics plays an important role in finding opportunities for expanding into new markets. -
Work Incentive
60% of the respondents said analytics contributes to the expansion of job opportunities. -
Global Policy Must-Haves: No Boundaries
Worldwide trade rules must promote data innovation. There are currently no global standards in place to ensure data moves freely across borders. -
Global Policy Must-Haves: Internet Integrity
It's important to prevent measures, such as server location requirements, that would undermine Internet-fueled advancements. -
Global Policy Must-Haves: A Delicate Balance
To restore public trust in the post-Snowden era, it's key to strike the right balance between privacy protection and governments' need to access data for national security and law enforcement purposes.
The vast majority of business leaders said data analytics is playing a key role in their organization with respect to strategic execution, and many said it serves as a primary growth driver, according to a recent survey from BSA|The Software Alliance. Findings reveal that companies have progressed far beyond the days when big data was perceived as a mysterious resource, and they are now finding effective, business-benefiting ways to use this technology. These efforts directly translate into more satisfied customers, increased sales, new products and expanded markets. "Data innovation helps companies do what they do in new and better ways," says Victoria Espinel, president and CEO of BSA. "They are using data to find insights, answers and innovative solutions to problems large and small." In addition to the research, BSA|The Software Alliance is offering the following global policy recommendations to ensure that organizations continue to maximize the value of their data. More than 1,500 senior executives and business decision-makers in the United States and Europe took part in the research.