Big data equals big payoff, says IBM

According to the study – the fifth of its kind, conducted with nearly 1,000 businesses and IT executives from 70 countries – IBM found that more than two-thirds of businesses are applying business analytics to support revenue-generation strategies rather than cost containment.

It also reported that while over 75% of the highest performing organisations cite growth or innovation as the chief value of business analytics, almost two-thirds say that some form of political or executive resistance is the primary barrier to realising the full value of their investments.

“In order to unlock the value of data, organisations need to identify different C-suite champions to get fully behind the use of analytics, said Fred Balboni (pictured), global leader and partner, business analytics and optimisation, IBM Global Business Services. “Emerging roles like the chief data officer and the chief analytics officer are helping companies build an enterprise-wide data strategy to gain competitive advantage.”

More detail on the findings can be found here.