Does your organization have more data than it really knows what to do with?
If so, you’re not alone. Sixty percent of respondents in a 2010 survey conducted by MIT Sloan Management Review and the IBM Institute for Business Value agreed or strongly agreed that their organization “has more data than it knows how to use effectively.”
However, using data well can give a company a competitive edge. For example, the survey also found that respondents who strongly agreed that the use of business information and analytics differentiated their organization within its industry were twice as likely to describe their organization as substantially outperforming industry peers than to say it was substantially underperforming them.
For more information about how smart companies are using analytics in their businesses, read Analytics: The New Path to Value. a special report produced by MIT Sloan Management Review, in collaboration with IBM.
You can also view a recording of a webcast panel discussion, held in November 2010, on the topic of insights from the data deluge. The four expert panelists were: