KPMG Survey: Executives Looking For Better Access To Mobile Device And Social Networking Data

KPMG Survey: Executives Looking For Better Access To Mobile Device And Social
                               Networking Data

KPMG Survey Finds Challenges in Current Data and Analytics Strategies

PR Newswire

NEW YORK, Dec. 12, 2012

NEW YORK, Dec. 12, 2012 /PRNewswire/ --A large number of companies have
adopted a data analytics strategy to better leverage in-house information, but
management teams don't seem to have the right access to marketplace data
needed to make strategic decisions, says a new survey from KPMG LLP, the U.S.
audit, tax and advisory firm.

More than 60 percent of respondents to a KPMG survey taken during Oracle
OpenWorld, the flagship conference of Oracle Corporation, said their
organization has a defined data and analytics strategy. However, only 39
percent of respondents either agreed or strongly agreed that senior management
had access to the rising volume of data gathered from the marketplace
necessary to predict the needs of their customers. This "unstructured" data is
typically generated by customers, vendors and analysts over websites, by
mobile device users, and via social networking.

As a result, senior management remains increasingly challenged to analyze
current data and to act meaningfully on the results, according to 45 percent
of more than 370 executives surveyed during the leading IT conference. In
addition, more than one-quarter of respondents said their major challenge has
been dealing with data raining in from other sources.

"Data generated on the Internet by customers and vendors can help offer new
predictive opportunities to anticipate market changes," said Jeanne E.
Johnson, who leads KPMG's Data & Analytics (D&A) innovation initiative. "But
it remains a huge challenge to harness this kind of data as it is not only
generated from disparate reporting systems, but is generated by a wide variety
of external stakeholders."

The old conventions for measuring, managing and monitoring a business—as well
as assuring the quality of its data—will be stressed to new extremes as speed,
the need for trustworthy information and machine learning continue to
influence the marketplace.

As a result, says Johnson, "to succeed in the data driven economy you'll have
to be able to figure out what you didn't know or didn't expect as well as
optimize what you did know and could anticipate."

Further, 29 percent of respondents said advances in data and analytics would
fundamentally change their business or industry in the next five years.
Forty-two percent of respondents said data and analytics would have an
important impact in several areas of their industry or business, though more
than one-third (36 percent) of those questioned said it will be at least one
to three years before their company can implement a data and analytics
strategy that allows predictive insights into the market.

Other findings included:

  oForty-five percent of respondents either agreed or strongly agreed that
    data analysis was on their board of directors' agenda.
  oForty-five percent of those surveyed said their company tends of focus
    more on data security than on using data to improve core business

"This survey demonstrates that data and analytics has become a central
strategic approach as most companies believe the key to predicting the needs
of customers is directly correlated with analysis from all data sources,"
Johnson said.

KPMG LLP, the audit, tax and advisory firm (, is the U.S.
member firm of KPMG International Cooperative ("KPMG International.") KPMG
International's member firms have 145,000 people, including more than 8,000
partners, in 152 countries.

Robert Wade/Christine Curtin


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