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‘Data leaders’ see strong revenue growth and improved customer satisfaction

‘Data leaders’ see strong revenue growth and improved customer satisfaction

It is Gartner Symposium week! This week (04.11 – 08.11.18) the event takes place in Barcelona and everis and NTT are there together (come and see us at stand #313).

The Symposium is always extremely interesting, with all the trends and expert insights that are shared throughout the week by some very impressive industry leaders.

We are proud to be involved in a few speaking sessions too, covering the subjects:

  • Business Intelligence & Analytics – Improving the odds with optimal data analysis
  • Customer Experience – Evolution for a digital-first society
  • Digital Innovation – Challenging convention to create new business models
  • Security & Compliance – Ensuring client confidentiality and trust

In our first session, we will delve deeper into our recently released report, conducted in partnership with Oxford Economics; The Future of Data’.

The report examines the trends and challenges as we adjust to an opt-in economy. 500 executives and 5,000 consumers in 15 countries were surveyed about their visions for a future shaped by data.

It came as no surprise that, although customers share sensitive data, they do not trust the companies they share it with and they do not fully understand how much data is collected and used. They do see the value from sharing their data but are not ready to take control of this valuable asset.

Executives overall have a very positive outlook on the data economy. They believe it is good for business and are confident that their customers and broader society will benefit. There is a growing investment in emerging technologies to ride the next wave of growth. Yet, executives do not fully appreciate their customers’ concerns about data sharing and use.

We have highlighted a few statistics and findings from the report below, focusing on the growth of business through emerging technologies like Artificial Intelligence (AI) and machine learning (ML).

  • Three-quarters of executives say that big data and analytics will be critical to their business strategy in three years.
    • To improve the customer experience (92%)
    • To overall financial performance (90%)
    • To business growth (88%)
  • Telecoms and financial services are the most likely to rate big data/analytics as important or critical to their business.
  • Financial services and telecom are most likely to cite AI and ML as critical today.
  • 9% of executives surveyed demonstrated a commitment to data analytics and progress toward developing related capabilities and strategies. They are focused on AI, consumer privacy and regulatory change and are growing faster than their competitors.

It is really encouraging to see that this 9% of executives, call them the data leaders, report a strong revenue growth over the past three years (79% saw growth of 5%+). They say that their data has a substantial and transformative value in improving processes, customer satisfaction, produce and service improvement and building relationships with customers.

IoT, big data and analytics, AI and ML are all technologies that look to see rapid adoption in the next three years. The importance however varies by industry, with telecom and financial services placing more importance on these emerging technologies than the manufacturing and media industries.

What is evident is that substantial investment in technology are an essential part of data strategy and security is still a great unsolved problem in our digital era. Those who solve this well, will increasingly differentiate themselves and reap the benefits of our rising data-economy. 

Download the full report here or get a quick overview with our infographic.