Corporate retreat?
Company Ferrari?
Picasso for the boardroom?
If you're like the small-to-medium-sized companies cited in a just-released IDG_Enterprise survey, you'll be spending that amount over the next 12 months on data.
Surprised?
We all know data is getting bigger and bigger every day, but $1.6 million is still a pretty sizable commitment for most companies. What do they hope to gain?
Instead of bottom-line-oriented outcomes like automatically increasing employee productivity or identifying hidden operational inefficiencies, the three primary business goals for undertaking data-based initiatives all impact management's ability to manage:
- improve the quality of decision making (61%)
- improve planning and forecasting (57%)
- increase the speed of decision making (51%)
These results might seem puzzling to some (especially those who see data as a threat to executive authority), but they're in line with what our clients tell us, too — companies don’t want data to make decisions for them, they want data to help them feel more confident in the decisions they make.
To read more about the survey click here.
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