High-Growth Firms Make Better Strategic Use of Data: Survey

A new study by the Economist Intelligence Unit finds a relationship between the growth of corporate earnings and companies’ use of data in strategic planning and decision-making. A survey of 318 C-level executives finds that while all companies are collecting more data than ever before, those from companies where average EBITDA growth over the past three financial years has exceeded 10 percent are more likely than their less rapidly growing peers to analyse various data sources they collect (e.g. 58 percent vs 43 percent, with reference to third-party data) and to consider themselves effective at extracting useful insights from this analysis (81 percent vs 57 percent). Furthermore, they are also far more likely to have to have changed the way they handle strategic decisions as a result of having more data (50 percent vs 36 percent), and to have seen improved strategic decision-making as a result of better data analysis (60 percent vs 38 percent). Click here for full story