How modern firms can capitalize on data assets

Most companies are awash in business and consumer data – but they’re struggling to extract full value out of it.  

Only 40 percent of C-Suite executives say they’re deriving the full economic potential of their data, according to a 2017 McKinsey survey. A recent study from Pricewaterhouse Coopers and Iron Mountain is even more pessimistic. Analysts found that two-thirds of senior business leaders in North America and Europe got either “little tangible benefit from their information” or “no benefit whatsoever.”

Why? Many modern businesses can’t make timely decisions because their performance reports are fragmented across several departments and businesses. As a result, they have no way of linking this data together to form coherent conclusions. Additionally, because the always-on cloud environment captures volumes of data at an accelerated rate, firms are struggling to measure performance in real time, and with how to pinpoint every opportunity to connect with consumers.  

Now is the time to tap into data to boost customer loyalty, personalize experiences, and drive sales. But for brands, gleaning insights from their data will require investing in sophisticated data models and architecture that’s compatible with cloud infrastructure.

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