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Becoming bold with big data

How Australian organisations can boost their adoption of big data to help drive business success.

Overview

According to research conducted by Accenture Digital, 89% of global organisations believe big data will have a revolutionary impact on their operations equal to the creation of the internet. Yet even though Australian organisations have the data and technology needed to implement successful big data strategies, they’re moving far too slowly.

By not harnessing the potential benefits of big data, Australian organisations are falling behind leading practice, and are potentially putting themselves at a disadvantage. For instance, they may not be exploring innovative and customer-centric strategies that are vital to establishing a sustainable competitive advantage. In addition, they are potentially opening themselves up to disruption from competitors who are already using big data strategies.

Big data brings big benefits

Australian organisations need to become bolder with big data and realise its benefits. It can take time to lay the right foundations for big data platforms; by the time you decide it’s time to move, your competitors may have already developed new capabilities and differentiated their competitive offerings.

1. Get the reasons for your big data strategies right

In our view, companies should not use big data to provide new sources of information. Rather, organisations should use big data strategies to bring about business outcomes by improving their core processes, such as supply chain management or boosting cross-selling opportunities.

2. Build big data into your customer experience agenda

Big data platforms have the ability to personalise and transform the customer experience.

3. Educate executive teams on the benefits of big data

Boards and c-suites in Australian companies should work to understand the potential of big data, and then take the lead on creating big data platforms.

4. Build a talent strategy

Talent is becoming a significant challenge in pursuing big data strategies. According to our survey, organisations outside Australia are already looking to build their data science and analytics expertise.


Want to know more?

For more information about this research and how your organisation can become bolder with big data, contact Marek Rucinski for more information.

Marek Rucinski
Managing Director, Accenture Analytics, Australia and New Zealand
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