For more information please visit: http://www.eiuperspectives.economist.com/technology-innovation/business-data-0 More and more organisations are collecting and storing vast amounts of data. Yet for all the excitement generated by the potential of this data to transform business models—turning it directly into cold, hard cash can prove difficult.

1. HOW HAS BIG DATA CHANGED YOUR
BUSINESS IN THE LAST THREE YEARS?
IS YOUR BUSINESS
EFFECTIVE IN
MANAGING DATA?
ORGANISATIONS GENERATING
REVENUE FROM DATA AND
PLANNING TO CONTINUE
Collecting
and storing
Analysing
for insights
Pursuing
commercial
opportunities
from it
Providing
employees
with access
Being transparent
with customers
about usage
Ensuring it’s secure
WHICH STEPS ARE YOU
TAKING / WILL YOU
TAKE TO GENERATE
MORE REVENUE FROM
YOUR DATA?
TRUST AND CUSTOMER DATA
WHAT ARE THE BIGGEST
CHALLENGES IN
GENERATING REVENUE
FROM YOUR DATA?
Our customers
trust us with data
We are selective in gathering,
storing and analysing
customer information
We have suffered a
significant security breach
in the last 12 months
Regulations prevent us
from using data to achieve
business goals
Only use
data we
collect
Buy data
and sell or
share our
data
Buy data
but don’t
sell or share
our data
Only sell or
share our
data but
don’t buy
Primary
business is
selling data
47% 22%
0.6% 0.4%
27%
86%
82%
34%
63%
Fear of giving insights
to competitors
Internal departments
control own data
Worry about negative
public reaction
Not a priority for
senior management
Regulatory
restrictions
Don’t want to
increase risk of
cyber-attack
25%
21%
15%
14%
14%
13%
Very effective
Somewhat effective
Don’t consider it effective
HOW DOES DATA FLOW BETWEEN
YOUR ORGANISATION AND OTHERS?
ASIA
63%
NORTH
AMERICA
58%
EUROPE
56%
New revenue from products/services 29%
Innovation in products/services 27%
New business line to monetise data 24%
New business model/strategy 27%
New working practices 29%
New industries or markets 29%
New technologies 43%
New partnerships 27%
A data-driven landscape
Companies increasingly perceive
data as a strategic resource
Sponsored by
Data meets the bottom line
While more companies are capitalising on the
opportunities represented by data, fewer are
selling and profiting on the data they collect
Barriers and best practice
Organisations face a number of
challenges in seizing the possibilities
presented by big data without
alienating authorities or customers.
Charting a path for the future
Regulators and consumers must brace for this change, while
companies should do more to integrate data considerations into
their strategic planning. Used and traded in the right way, data
has the potential to benefit companies and their customers alike.
The Economist Intelligence Unit surveyed 476 senior executives from the USA, Japan, the UK, Australia,
Canada, India, Germany, France, Spain, Argentina, UAE and Singapore. About half (47%) of respondents
are board members or C-level executives.
© The Economist Intelligence Unit, 2015
THE BUSINESS OF DATA:
FROM INFORMATION
TO INCOME
A startup or entrepreneur
An existing customer
A company from
outside your industry
An existing supplier
A major tech platform
company (eg, Google)
A company from within
your industry
29%
12%
8%
8%
6%
5%
Companies are poised to share and even sell more data in the future.
16%
18%
Create a new
business unit
Give an executive
responsibility to
monetise
Collect more
21%
36%
Invest more
in technology
14%
Recruit talent with
data experience
17%
Launch new
product / service