article thumbnail

3 Huge Ways Big Data Analytics Benefits Businesses

Smart Data Collective

However, despite the benefits big data provides, companies that are using it are in the minority. Only 30% of companies have a well-defined data strategy. An even smaller number of companies have a data strategy that is supported by the company leadership. This is where Big data analytics comes into play.

Big Data 136
article thumbnail

Data Analytics is Very Valuable for Companies Improving their Cultures

Smart Data Collective

Data analytics technology is rapidly becoming a more integral part of many company cultures. According to the 2021 State of Data Maturity Report, 32% of companies have formal data strategies. Data analytics serves many different purposes. Data analytics can help them bridge that gap.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Using Data-Driven Lean Thinking to Optimize Business Processes

Smart Data Collective

A growing number of businesses use big data technology to optimize efficiency. However, companies that have a formal data strategy are still in the minority. Only 32% of executives have officially laid out a data strategy to drive their organization. What is Lean Thinking?

article thumbnail

The Cloudera Enterprise Data Cloud Maturity Report: Uncovering progressive steps towards a hybrid future

Cloudera

Some organizations have taken this as an opportunity for positive change by moving workloads to the cloud and utilizing enterprise data strategies that are key to their business resiliency. Their current uses of data and analytics. Parties championing the use of data and analytics.

article thumbnail

7 Major IT Infrastructure Challenges for Data-Driven Companies

Smart Data Collective

Big data technology has been a huge gamechanger for countless companies in every sector. Around 60% of companies rely heavily on data analytics technology to meet their goals. However, despite, the many benefits of big data technology, many companies still have difficulty implementing it properly.

article thumbnail

Small Businesses Use Big Data to Offset Risk During Economic Uncertainty

Smart Data Collective

In 2023, big data Is no longer a luxury. One survey from March 2020 showed that 67% of small businesses spend at least $10,000 every year on data analytics technology. Companies which require immediate business funding are using data analytics tools to research and better understand their options.

article thumbnail

6 Tremendous Benefits of Big Data for Financial Management

Smart Data Collective

One survey published on CIO found that less than a third of companies have reported that big data has buy-in from top executives. If you are running a business that has not yet adapted a data strategy, you should keep reading. You will get a better sense of the reasons that you should make investing in big data a top priority.

Big Data 112