Capgemini announced the findings of a global survey into the use of big data in corporate decision-making. The report revealed that nine out of ten business leaders believe that big data is the fourth factor of production, as important as land, labor and capital. The study also indicates that the use of big data has improved business performance by 26 percent on average.
Two-thirds of the executives surveyed believe big data will be an issue over the next five years. These executives consider their companies as ‘data-driven,’ implying that the collection and analysis of data is an integral part of the firm’s business strategy and decision-making process. Many executives were also concerned about the increased volume of data and their ability to analyze and act on it in real-time.
Scott Schlesinger, vice president and head of Business Information Management at Capgemini said, “The exploitation of Big Data is fueling a major change in the quality of business decision-making, requiring organizations to adopt new and more effective methods to obtain the most meaningful results from their data that generate value. Organizations that do so will be able to monitor customer behaviors and market conditions with greater certainty, and react with speed and effectiveness to differentiate from their competition.”
To view the complete findings, click here.