Data, Analytics, & AI: how trust produces value

, Analytics, & AI:  Ενώ η ανάλυση των δεδομένων διαδραματίζει καθοριστικό ρόλο στη διαδικασία λήψης επιχειρηματικών αποφάσεων, λιγότερο από τα μισά ανώτατα στελέχη είναι σίγουροι ότι έχουν τα σωστά δεδομένα για να λάβουν σημαντικές αποφάσεις, σύμφωνα με έρευνα που διεξήχθη από το MIT SMR Connections με την of SAS.

The research entitled “Data, Analytics, & AI: How to trust delivers value”Focuses on the degree of confidence that the for the data they collect and analyze.

data analytics

The added value of analytics and new technologies such as , it starts from trusting them. Companies interested in creating a data-driven culture, where people understand data and leverage advanced analytics to make better decisions, prioritize building trust around the data they collect and store, and the insights they provide. This very trust reinforces the culture they pursue.

The MIT SMR Connections global online survey was conducted, with support from SAS, for of MIT Sloan Management . A total of 2.413 people participated in the survey, 70% of whom are executives, senior executives or members of the business board.

However, the survey shows that only 15% of respondents use advanced analytics to make business decisions. Less than one in ten use automated analytics and just 7% apply artificial intelligence technologies and in decision making.

The "Utility Gap"

Although 76% of respondents said they have increased access to data they find useful - which is not surprising as data volumes are steadily increasing in the context of business digitization - only 43% believe they often have the right data for making appropriate decisions. This "utility gap", as characterized by MIT SMR Connections, reveals a recurrence of the phenomenon, since similar responses had emerged in a similar survey conducted in 2017.

This shows a confidence gap, which is also reflected in the next question. Only 10% of respondents said that they always trusted the data, while 40% (on average) sometimes trusted the data.

Three key conclusions

One of the most important findings of the research is that there is a need for greater commitment and investment towards and securing data, which is also the cornerstone for building trust. Of particular importance are businesses concerned with data security and protection, elements critical to maintaining customer trust in companies' use of their personal data.

Data security is at the heart of research responses and can be further developed through the application of analytics and artificial intelligence. There is also the opportunity to leverage privacy and GDPR initiatives to build trust, rather than just working as part of compliance processes.

Finally, although adopting an analytics-based culture improves innovation, only a small percentage of respondents are involved in activities that develop employees' knowledge of data analysis.

Finding staff with the right skills is one of the major challenges, so there is still much room for improvement and much effort needs to be made to bridge this ever-widening gap.

___________________

iGuRu.gr The Best Technology Site in Greecefgns

every publication, directly to your inbox

Join the 2.100 registrants.

Written by newsbot

Although the press releases will be from very select to rarely, I said to go ... because sometimes the authors are hiding.

Leave a reply

Your email address is not published. Required fields are mentioned with *

Your message will not be published if:
1. Contains insulting, defamatory, racist, offensive or inappropriate comments.
2. Causes harm to minors.
3. It interferes with the privacy and individual and social rights of other users.
4. Advertises products or services or websites.
5. Contains personal information (address, phone, etc.).