In the past, traditional process-driven organizations generally viewed data as a secondary byproduct. Now, however, many of these enterprises are using data strategically to help them become more competitive, increase revenue and profits, reduce risk and begin new initiatives, according to a new report. Some are even building entire business models in order to deliver exceptional products and services. The report, “Data and Advanced Analytics: High-Stakes, High Rewards,” produced by EY and Forbes Insights, stated: “Global executives that understand the full value of advanced analytics are making it a core element in their business strategies and using it as a competitive differentiator.” Chris Mazzei, EY global chief analytics officer and emerging technology leader, added, “Companies have moved from pilot projects that originated in business units or countries to using data and advanced analytics at enterprise levels to rethink and reimagine their entire business to identify new opportunities.” The report surveyed 1,518 C-level executives based in the Americas, the Asia-Pacific rim region and EMEA.
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