Businesses Investing in Data Analytics17 January 2012 18:40:00
Deloitte has shared its insights into data analytics. The business advisor claims that during the economic downturn, businesses have increased their investment in data analytics technology. It believes that companies have begun to better utilise the data collected.
A key driving factor in the upturn is the increasing demands of regulatory requirements; many businesses are using the data as a competitive differentiator. At the same time, in the face of tight budgets, many organisations are using the data to support their cost-cutting decisions.
Deloitte believes the use of data analytics will continue to increase as businesses get to grips with how the data gathered can be used to push profitable business.
Alongside this upward trend, there has been an increase in the number of chief data management officer roles offered at board-level. This, Deloitte believes, is an effort to better exploit the data across all of their organisations.