Big data? Great – so long as you get the analysis right

US and UK finance pros are upbeat about big data’s potential to change business in the longer term but right now many of them think companies are losing significant sums because of inaccurate analytics.

Almost nine out of 10 chartered management accountants and finance pros – including CEO and CFO level executives – say big data and better analytics will transform the way business is done over the next 10 years, according to a survey by the American Institute of CPAs and the UK’s Chartered Institute of Management Accountants.

However, an almost identical number of the 2,000 survey respondents think businesses are struggling to turn growing volumes of data into valuable insights.

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