Share with your friends










Submit

Analytics Magazine

KPMG survey: Just one-third of CEOs trust their D&A

KPMG survey CEO acceptance of analytics and dataJust one-third (33 percent) of CEOs have a high-level of trust in the accuracy of their data and analytics (D&A), a new KPMG survey has found, and 29 percent have limited trust or active distrust of their organization’s use of D&A.

“In a global environment defined by constant disruption, business leaders need D&A they can trust to inform their most important decisions,” says Brad Fisher, KPMG partner and U.S. leader of data & analytics. “However, many C-suite executives are uncertain about the underlying information included in their data and the resulting analytical conclusions being reached.”

The survey also found:

  • Seventy-seven percent said they have concerns about the quality of data on which they base their decisions.
  • Less than one-third (31 percent) feel their organizations are leaders of D&A usage.

“The emergence of advanced D&A has changed the decision-making approach for many organizations,” says Wilds Ross, principal of data & analytics at KPMG. “CEOs need to be able to trust the process from the elemental data points to the analytical recommendations.”

The survey also uncovered the ways that companies are harnessing D&A for their businesses. Specifically:

  • Over half (51 percent) of CEOs are using D&A to develop new products.
  • Forty-nine percent said they are using D&A as a way to find new customers.
  • Large companies are using D&A to improve financial reporting (54 percent).
  • Medium-size companies are using D&A to manage risk (44 percent).

The study analyzed the views of 400 U.S. CEOs from organizations with at least $500 million in revenue. To view the full report, click here.

Save

Related Posts

  • 72
    New research by Continuum Analytics finds that 96 percent of data science and analytics decision-makers agree that data science is critical to the success of their business, yet a whopping 22 percent are failing to make full use of the data available.
    Tags: data, science, percent, analytics, business
  • 67
    Features The direction of smart automation By Joseph Byrum Key technologies: What humanity optimized by artificial intelligence might look like: combining AI, big data, advanced analytics and autonomous systems. Turbocharging AI and ML projects By Shashank Dubey Three critical mindsets – business case, entrepreneur’s and adoption – close the gap…
    Tags: analytics, data, science, adoption, business
  • 64
    Most business leaders today believe in the value of using data and analytics (D&A) throughout their organizations, but say they lack confidence in their ability to measure the effectiveness and impact of D&A, and mistrust the analytics used to help drive decision-making, according to a new survey from KPMG International.
    Tags: d&a, analytics, percent, organizations, trust, kpmg, data, survey, business
  • 62
    More than seven years ago, McKinsey & Company famously predicted that by 2018 there would be a shortage of 140,000-190,000 people with “deep analytical skills” (i.e., data scientists) in the United States. A year later, a 2012 article in the Harvard Business Review just as famously labeled data science “the…
    Tags: data, science, analytics, business
  • 61
    By Eric Siegel Note: This article is excerpted from Eric Siegel’s foreword to the recently released book, “Mining Your Own Business: A Primer for Executives on Understanding and Employing Data Mining and Predictive Analytics,” by Jeff Deal and Gerhard Pilcher. For predictive analytics to work, two different species must cooperate…
    Tags: data, analytics, business, science

Headlines

Using machine learning and optimization to improve refugee integration

Andrew C. Trapp, a professor at the Foisie Business School at Worcester Polytechnic Institute (WPI), received a $320,000 National Science Foundation (NSF) grant to develop a computational tool to help humanitarian aid organizations significantly improve refugees’ chances of successfully resettling and integrating into a new country. Built upon ongoing work with an international team of computer scientists and economists, the tool integrates machine learning and optimization algorithms, along with complex computation of data, to match refugees to communities where they will find appropriate resources, including employment opportunities. Read more →

Gartner releases Healthcare Supply Chain Top 25 rankings

Gartner, Inc. has released its 10th annual Healthcare Supply Chain Top 25 ranking. The rankings recognize organizations across the healthcare value chain that demonstrate leadership in improving human life at sustainable costs. “Healthcare supply chains today face a multitude of challenges: increasing cost pressures and patient expectations, as well as the need to keep up with rapid technology advancement, to name just a few,” says Stephen Meyer, senior director at Gartner. Read more →

Meet CIMON, the first AI-powered astronaut assistant

CIMON, the world’s first artificial intelligence-enabled astronaut assistant, made its debut aboard the International Space Station. The ISS’s newest crew member, developed and built in Germany, was called into action on Nov. 15 with the command, “Wake up, CIMON!,” by German ESA astronaut Alexander Gerst, who has been living and working on the ISS since June 8. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

INFORMS Computing Society Conference
Jan. 6-8, 2019; Knoxville, Tenn.

INFORMS Conference on Business Analytics & Operations Research
April 14-16, 2019; Austin, Texas

INFORMS International Conference
June 9-12, 2019; Cancun, Mexico

INFORMS Marketing Science Conference
June 20-22; Rome, Italy

INFORMS Applied Probability Conference
July 2-4, 2019; Brisbane, Australia

INFORMS Healthcare Conference
July 27-29, 2019; Boston, Mass.

2019 INFORMS Annual Meeting
Oct. 20-23, 2019; Seattle, Wash.

Winter Simulation Conference
Dec. 8-11, 2019: National Harbor, Md.

OTHER EVENTS

Advancing the Analytics-Driven Organization
Jan. 28–31, 2019, 1 p.m.– 5 p.m. (live online)

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.