Research Report

In Search of Insight and Foresight:
Getting More Out of Big Data

An Economist Intelligence Unit research program
sponsored by Oracle and Intel®

 
 


Why is getting value from business data still a struggle when there is more data available than ever before? Are the greater challenges with people or with the data? Can business leaders achieve better business outcomes simply by asking the right questions of the data?

In fact, asking better questions can lead to deeper insight and foresight that enables better decision-making and, ultimately, better outcomes. Get the findings from a recent Oracle and Intel–sponsored study by the Economist Intelligence Unit, "In Search of Insight and Foresight—Get More Out of Big Data."

The study includes results from a survey of 373 global senior executives and interviews extracting business value from data. The research explores how organizations can gain a competitive advantage through innovative analytical approaches that overcome people, data, and technology challenges.

Here's a snapshot of the research findings:

  • Defining, agreeing upon, and gearing data analyses toward clear business objectives is a key obstacle to translating data into insights and results
  • Top performers are more likely to use data insights to identify new opportunities (75%) and risks (60%), invest in innovating customer interactions (51%), and prioritize near-term product/services decisions (27%)
  • Interviews revealed that the toughest obstacles are creating a data-driven culture and an organization with the right people in the right roles
  • While top-performing organizations are committed to invest in data analysis capabilities over time, they are more likely to have significantly increased investment in the past year

In Search of Insight and Foresight: Getting More of Big Data


Watch the video

"With the abundance of new data today, you can stumble on a valuable nugget that is relevant and gives you competitive advantage."

Vijay Raghavan, Chief Technology Officer of LexisNexis Risk Solutions,
a legal research firm.

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