49 percent business leaders do not know how to turn all of their data into actionable information, said a survey by EMC.
Though 70 percent can gain insights from data, 30 percent are always on and able to act upon their information in real time, and are unable to achieve this very well and company-wide.
52 percent admit they do not use their data effectively or are drowning in information overload. 24 percent consider themselves very good at turning data into useful insights and information.
Leaders admit to limits on current ability to make use of data: 30 percent are able to act upon their information in real time; nearly 50 percent admit to not knowing how to get value from their data; 24 percent consider themselves “very good” at turning data into useful insights and information, said EMC.
96 percent business leader believes new technologies have forever changed the rules of business.
93 percent said recent technology advancements are resetting customer expectations, and nearly all say this will accelerate over the next decade.
The top reported customer expectations are faster access to services, 24/7 and everywhere access and connectivity, access on more devices, and a more personalized experience.
On behalf of EMC, Institute for the Future and Vanson Bourne surveyed 3,600 business leaders across 18 countries from mid-size to large enterprises in nine industries to determine top business imperatives required for success today and over the next decade.
Due to new Information Generation-driven demands, businesses agree that transformation is critical.
12 percent said they can predictively spot new opportunities, 9 percent innovate in agile ways, 14 percent demonstrate transparency and trust, 11 percent deliver personalized experience, and 12 percent operate in real-time.
By 2020 more than 7 billion people on at least 30 billion devices will have created 44 zettabytes of data (or 44 trillion gigabytes), according to Gartner and IDC respectively. This is rapidly leading to a world in which nearly every element of life will be data-driven.