Businesses might be collecting more data than ever before but many firms still don’t know what to do with it. As consulting firm McKinsey suggests, the process of actually deriving meaningful insight from that information – and converting that knowledge into action – is easier said than done.
Two in three companies (65%) are unable to analyse all the data they collect, according to the Data Security Confidence Index from digital security specialist Germalto. Tech analyst Forrester, meanwhile, reports that between 60% and 73% of all data within an enterprise goes unused for analytics. So how can companies make the most of the data they collect? Three digital leaders give their best-practice tips for turning interesting information into meaningful insight.
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