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
  • 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
  • 63
    The 39th Annual ISMS Marketing Science Conference will be held June 7-10 at the University of Southern California in Los Angeles. The ISMS Marketing Science Conference is an annual event that brings together leading marketing scholars, practitioners and policymakers with a shared interest in rigorous scientific research on marketing problems.
    Tags: science, analytics, business, data
  • 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
  • 60
    The CUNY School of Professional Studies is offering a new online master of science degree in data analytics. The program prepares its graduates for high-demand and fast-growing careers as data analysts, data specialists, business intelligence analysts, information analysts and data engineers in such fields as business, operations, marketing, social media,…
    Tags: data, analytics, business

Analytics Blog

Electoral College put to the math test


With the campaign two months behind us and the inauguration of Donald Trump two days away, isn’t it time to put the 2016 U.S. presidential election to bed and focus on issues that have yet to be decided? Of course not.

Headlines

2017 Tech Trends: the kinetic enterprise

From dark analytics to mixed reality, machine intelligence and blockchain, Deloitte’s annual Technology Trends report analyzes the trends that could disrupt businesses in the next 18-24 months. CIOs who can harness the possibilities of these technologies will be better positioned to shape the future of their business. Read more →

FICO: Financial crime trends for 2017

If the world seemed dangerous from a financial crime perspective last year, FICO experts predict an even more challenging 2017. In a new paper, four of the leaders in the company’s fraud and financial crime group laid out 17 predictions, ranging from killer devices in the home to hacked fingerprints. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

CONFERENCES

2017 INFORMS Healthcare Conference
July 26-28, 2017, Rotterdam, the Netherlands

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.