Becoming an analyticsdriven organization to create value

A report in collaboration with Nimbus Ninety

  In the past, answers to these tough questions were based on a simple analysis of the balance sheet and a focus on the company’s future expected revenues and profits. Assumptions were also made about the value of intangible assets, from intellectual capital and employee skills to customer loyalty and future growth potential, leading to highly subjective valuations.

To identify new sources of value that exist in an organization and can be exploited, and to cultivate future opportunities for value creation and protection, many forward-looking companies are turning to big data and analytics. In essence, analytics can enable an organization to effectively grow, optimize and protect value.

Firstly, big data has become an invaluable tool for creating value in a business. By providing a comprehensive view of market conditions, customer needs and preferences, and potential project risks, big data can eliminate reliance on “gut feel” decision-making. Organizations can understand and embrace emerging opportunities and align products and services with changing customer needs creating additional value for stakeholders in the process.

Secondly, big data can help organizations protect value based on effective risk mitigation and compliance with ever-changing regulations. This is especially important for companies grappling with the implications of the new European Union (EU) General Data Privacy Regulation set to be formalized by the EU in 2015.

Thirdly, analytics can help organizations find and measure intangible sources of value more effectively, bringing together hard facts from the balance sheet with a range of qualitative evidence, such as employee skills, customer sentiment, product innovation and geographical footprint. The result is a more comprehensive understanding of what drives a company’s valuation while offering a clear way to manage value and communicate it to a wide range of stakeholders and the market.

In this summary we give you an overview of research from EY and Nimbus Ninety, which looks at how companies are currently using big data analytics to find, measure, create and protect value across functional areas. Strikingly, the research shows that while 81% of organizations think data should be at the heart of every business decision, most are still using analytics in an isolated way to address specific business issues, limiting the potential value to increase performance and efficiency.

In the following sections, we look at the key challenges companies face in their quest to embrace value-driven decision-making as well as the game changing impact of the European Union directives and regulations impacting data security. Using our latest research, we hope to shed light on how businesses are working to become analytics-driven organizations.

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