The professional services firm commissioned a survey of 144 chief financial officers and chief information officers at major businesses that turnover more than $1 billion annually in August last year. It said that 96% of respondents “admitted that they could do more with big data and make better use of analytics in their organisation”. The benefits to be gleaned from that untapped data could be “significant”, 56% of those respondents said.
‘Big data’ is a term used to describe the vast generation of data and the possibilities presented through analysing the information through computers.
According to 69% of respondents to KPMG’s survey, data analytics is either crucial or very important to their business. More than half (56%) said their companies had altered their strategies to “meet the challenges” of big data, including most often by increasing their capacity to analyse the information they have access to.