As Companies Embrace Analytics, A Data-Driven Approach Presents An Opportunity To Scale
A major survey from NewVantage Partners shows that among 57 large corporations polled, AI and data projects are delivering significant value. The survey is in its sixth year and its reach and quality continues to grow, tapping the perspectives of the growing number of chief data officers. As big data and AI projects grow increasingly indistinguishable, more companies are looking to integrate the technologies into a coherent strategy.
Nearly every respondent (97%) said their companies are investing in AI and big data projects, the Harvard Business Review reports. While 73% of those polled said they see analytical value in the technology, only a third have achieved a data-driven corporate culture. Fearing disruption from startups, large corporations are pushing toward a data culture by mixing up management roles, but their purpose isn’t always clear. In 2012, only 12% of firms reported even having appointed a chief data officer. Startups often are built with a data culture in mind, causing the large corporations lagging behind to fear major disruption.
The Harvard Business Review contends that big data will remain an important feature of our economy, and companies must react with proper strategies in place. As AI and big data grow ever more omnipresent, clear responsibilities must be designated to newly appointed, data-oriented positions. Otherwise, large firms’ worst fears of disruption may come true.