April 2014 research by Accenture also found big data was top of mind for the majority of executives worldwide, with 59% saying it was extremely important. Of course, technologies are needed to make sense of and combine all of this information, and Accenture noted that using such tools to understand big data could transform an entire enterprise—if done correctly.
Big data’s biggest impact was on customer relationships, with 37% citing this as the top effect and 63% ranking it in the top three. But respondents expected big data to transform their companies internally as well: Redefining product development, changing organization operations and supply chain optimization were all at the top of the list. Companies that avoid implementing and using marketing technology to make sense of data have an uncertain future. Nearly 80% of execs agreed that companies that did not embrace big data would lose their competitive advantage—and possibly face extinction. Read the rest at eMarketer.