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C-Level Execs Value Data, Have No Idea What to Do With It

20th Jan `14, 09:14 AM in Resources

“Long before the term ‘big’ was first applied to data, organizations were struggling to make sense of all…

BDMS
Guest Contributor
 

“Long before the term ‘big’ was first applied to data, organizations were struggling to make sense of all the information they had,” says Mark Toon, CEO of KPMG Capital and global leader, D&A. “Over the past five years that focus on data has started to shift. Today, the issue is no longer about owning the most data but rather about how to gain the most insight from it. In short, how to turn data into insights, and insights into real business advantage.”

“Data is everywhere, telling us everything,” he adds. “But do companies really know where to look? The reality is that turning mountains of data into valuable, practical and actionable business analytics is not nearly as straightforward as people believe.”

“The fact that executives are expressing uncertainty about their data and analytics capabilities means that they are starting to ask the right questions and think more strategically about data and analytics.” — KPMG

In August, FT Remark, a research service from the Financial Times Group, surveyed 144 CFOs and CIOs at global organizations on KPMG Capital’s behalf. The organizations all had more than $1 billion in annual turnover.

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