Orlando, Florida, USA and Bangalore, India - April 29, 2013:
A new study by the Economist Intelligence Unit finds a relationship between the growth of corporate earnings and companies’ use of data in strategic planning and decision-making. A survey of 318 C-level executives finds that while all companies are collecting more data than ever before, those from companies where average EBITDA growth over the past three financial years has exceeded 10% are more likely than their less rapidly growing peers to analyse various data sources they collect (eg 58% vs 43%, with reference to third-party data) and to consider the
These are among the major findings of The data directive: How data is driving corporate strategy—and what still lies ahead, a new report from the Economist Intelligence Unit, commissioned by Wipro. The report seeks to examine the progress that executives have made in using information to transform their businesses. While highlighting some of the striking gains that are being achieved so far, it also uncovers how much work remains to be done in terms of making use of the transformational potential of data for business strategy.
“This research is a reflection of how organizations are leveraging data to sustain its competitive advantage for its products/services and be relevant in future. Leveraging the power of analytics, organizations can from prop up their key performance indicators -drive growth, enhance cost management and strengthen risk management”, said K R Sanjiv, Senior Vice President and Global Head, Analytics and Information Management Services, Wipro Ltd.
Key findings of the main report mselves effective at extracting useful insights from this analysis (81% vs 57%). Furthermore, they are also far more likely to have to have changed the way they handle strategic decisions as a result of having more data (50% vs 36%), and to have seen improved strategic d most valuable so far for marketing leaders. From better ways to segment the customer base, to rethinking the ideal product mix in a retail store, marketing leaders are finding wide-ranging uses for their data to help improve how they market their company’s wares. Already, 50% of chief marketing officers say they have tried and found a clear, positive difference in using data to improve their understanding of customers, as just one of a range of successful applications. This is a markedly higher proportion than their C-suite peers.decision-making as a result of better data analysis (60% vs 38%).
A supplement to this report, The data directive: Focus on the CFO, is also released today. This paper drills down into the 62 responses to the survey by chief financial officers. The key findings of this supplement include:
The data directive: How data is driving corporate strategy—and what still lies ahead, and The data directive: Focus on the CFO are available free of charge at:
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology"; helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability; Wipro has over 140,000 employees and clients across 54 countries. For more information, please visit www.wipro.com.
About the Economist Intelligence Unit
The Economist Intelligence Unit (EIU) is the world's leading resource for economic and business research, forecasting and analysis. It provides accurate and impartial intelligence for companies, government agencies, financial institutions and academic organisations around the globe, inspiring business leaders to act with confidence since 1946. EIU products include its flagship Country Reports service, providing political and economic analysis for 195 countries, and a portfolio of subscription-based data and forecasting services. The company also undertakes bespoke research and analysis projects on individual markets and business sectors. More information is available at www.eiu.com or follow us on www.twitter.com/theeiu
The EIU is headquartered in London, UK, with offices in more than 40 cities and a network of some 650 country experts and analysts worldwide. It operates independently as the business-to-business arm of The Economist Group, the leading source of analysis on international business and world affairs.
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