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Most big firms to be data-driven by 2019

Most big firms to be data-driven by 2019

CEOs will be data scientists or there will at least be one on the executive team, Telsyte believes

More than 70 per cent of Australian companies with 200 staff or more will become data-driven by 2019, up from about one-third today, Telsyte has found.

The research and analyst firm believes that big data analytics is fast becoming the best way to empower CEOs and boards to drive an innovative agenda.

“We are seeing a new generation CEO who no longer relies on a hunch or gut feel to determine the future direction of their organisation,” said Telsyte senior analyst, Shayum Rahim.

He predicted that if the CEO is not data scientist themselves, their companies will certainly have one on the executive team within a few years.

Research conducted by CIOs, CMOs and other business executives found that 38 per cent of large businesses are currently using big data analytics, but many are still at early stages of maturity.

Barriers to big data analytics adoption across Australia still include the ongoing skills shortage, and infrastructure and data integration challenges.

Meanwhile, big data investments outside their remit of IT are fuelling the growth of technology spending. Around 5 per cent of organisations reporting that line of business spending on technology is surpassing that of the IT department. The main spenders outside of IT were management (63 per cent), operations (62 per cent), and marketing (54 per cent).

Telsyte said it expects that trend to continue, driven by technology solutions that use data from the Internet of Things, social media and digital marketing.

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Tags managementmarketingdataShayum Rahimtechnology spendingtelsyteoperationsdata scientist

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