Business data used to be hoarded, protected, and kept under wraps. But today, executives are recognizing the value in sharing key information with the front lines.
Yet according to a recent Economist Intelligence Unit (EIU) study, “Levelling the Playing Field: How Companies Use Data for Competitive Advantage,” organizations typically struggle with inefficient processes for sharing data, and ineffective policies for security – with either too many or too few barriers to access. How have top companies overcome these hurdles – and how are they effectively using data to crush their rivals?
Download the EIU report “Levelling the Playing Field: How Companies Use Data for Competitive Advantage” to find out.
The EIU interviewed over 600 executives around the world – in a wide range of industries – to explore data use at some highly successful companies. Here are some of its major findings:
- Leading companies devote substantial time and effort to figuring out what sort of data they should track – and who within the company should have access to it.
- They invest heavily in technology and training to ensure business users on the front lines are able to capitalize on the collected data.
- They recognize that the accuracy and timeliness of their data trumps granular detail.
- They use data to strengthen brand awareness, improve cost management, and speed development.
- They find ways to leverage the unused data sitting on their servers.
Despite the success of these top firms, the struggle to effectively share data and drive secure information management is ongoing. According to Gartner, a major technology research firm, the volume of corporate data is growing by as much as 60% per year. Add that to the speed at which mobile devices and technology are evolving – and it becomes necessary to ensure your BI strategy is flexible enough to adapt along with you. Learn more in this insightful report.