ARE CEO’S MISSING OUT ON BIG DATA’S BIG PICTURE? Posted on : Jun 24 - 2017

Big data allows marketing and production strategists to see where their efforts are succeeding and where they need some work. With big data analytics, every move you make for your company can be backed by data and analytics. While every business venture involves some level of risk, with big data, that risk gets infinitesimally small, thanks to information and insights on market trends, customer behaviour, and more.

Unfortunately, however, many CEOs seem to think that big data is available to all of their employees as soon as it’s available to them. In one survey, nearly half of all CEOs polled thought that this information was disseminated quickly and that all of their employees had the information they needed to do their jobs. In the same survey, just a little over a quarter of employees responded in agreement.

GREAT LEADERSHIP DRIVES BIG DATA

In entirely too many cases, CEOs look at big data as something that spreads in real-time and that will just magically get to everyone who needs it in their companies. That’s not the case, though. Not all employees have access to the same data collection and analytics tools, and without the right data analysis and data science, all of that data does little to help anyone anyway.

In the same study that we mentioned above, of businesses with high-performing data-driven marketing strategies, 63% had initiatives launched by their own corporate leaders. Plus, over 40% of those companies also had centralized departments for data and analytics. The corporate leadership in these businesses understood that simply introducing a new tool to their companies’ marketing teams wouldn’t do much for them. They also needed to implement the leadership and structure necessary to make those tools effective. View More