WASHINGTON — December 10, 2014 —
Senior executives and business decision-makers across the United States and Europe say data analytics are important to their companies’ plans in a wide range of mission-critical activities, from better serving customer needs to creating new products and services, finding opportunities to expand into new markets, increasing sales and revenue, and adding new employees.
These findings come from a survey released today by BSA | The Software Alliance. It suggests data tools have become catalysts for innovation and growth in large, medium-sized and small organizations throughout the economy.
“It’s not just technology companies that are taking advantage of data tools to innovate and grow — it’s companies of all types and sizes across the entire economy,” said BSA President and CEO Victoria Espinel. “Data innovation helps companies do what they do in new and better ways. They are using data to find insights, answers and innovative solutions to problems large and small. That has far-reaching benefits.”
The survey, conducted by Ipsos Public Affairs, polled more than 1,500 senior executives and business decision-makers in the US and EU. Among the findings:
- More than two-thirds of senior executives (67 percent) say data analytics are important to their companies. That includes 69 percent of senior executives and business decision-makers in the United States and 65 percent in Europe.
- Data analytics are important to 60 percent of small companies. That includes 57 percent of US companies with 50 or fewer employees and 62 percent of same-sized European companies, according to their senior decision-makers. In medium-sized companies (those with 51 to 500 employees), 87 percent of US executives and 79 percent of European executives say data analytics are important. In large companies (those with more than 500 employees), 97 percent of US executives and 82 percent of European executives say data analytics are important.
- Data analytics are creating jobs. Sixty-one percent of senior executives in the US and 58 percent in Europe say data analytics are important to their companies’ plans to hire more employees.
- Data analytics help companies better serve their customers’ needs. Seventy-nine percent of senior executives in the US and 80 percent in Europe say data analytics are important to their companies’ plans to better serve customer needs, while 70 percent in the US and 72 percent in Europe say data analytics are important to their companies’ plans for creating new products or services.
- Data analytics will spur significant growth in the next five years. Thinking about this year, 33 percent of senior executives in the US and 24 percent in Europe say they expect 10 percent or more of their companies’ growth to be related to data analytics. Looking ahead five years, 58 percent of senior executives in the US and 43 percent in Europe make the same prediction.
“This survey shows how widespread the impact of data innovation is in the modern economy,” said Espinel. “Companies of all types and sizes are using data tools to create new products, serve customers, add jobs and grow into new markets. It is a hugely beneficial trend for customers, the economy and society at large.”
For more information, visit www.bsa.org/datasurvey.