Data-driven working a top priority for organisations

Only 10% of businesses are currently using advanced analytics such as machine learning or big data capabilities in production environments. However, one-third of businesses are aware they will need to expand into these areas to avoid being outflanked by competitors in the current decade, and are trialling a host of automation capabilities in response to this. In late 2018, an apocalyptic white paper from DATAVLT predicted that as just 1% of the data companies collect and store is ever analysed, this will cause "as much as 96% that exist today to fail in 10 years." Echoing this foreboding forecast, a new report from Coeus Consulting has similarly warned that organisations are missing opportunities to be empowered by great use of data. According to a survey of 120 senior IT and data leaders, while 50% of companies are now widely using data warehousing and BI tools, most are still focusing on getting the basics right.