Data and analytics capabilities aren’t just the concern of IT folks and professionals down a rung from the C-Suite.
Now that big data has been proven a boon to businesses — to not only target customers, but create superior experiences across devices — even the high honchos are getting involved.
“In fact, many organizations place such high value on data and analytics that primary responsibility for the function lies with the company CEO,” notes eMarketer in a recent post.
The September, 2015 survey of executives on their organizations’ analytics strategies by McKinsey & Company was cites by eMarketer, which reports that 38 percent of respondents said primary responsibility for the specialty was vested more with CEOs than with any other company position.
“Even for respondents from organizations who said their CEO did not have primary responsibility for analytics, many emphasized the importance of senior-management involvement in such programs,” according to eMarketer. “A quarter of respondents said ensuring senior-management involvement was the most significant reason for their organizations’ effectiveness at data and analytics.”
This high priority push for analytics capabilities is backed up by other recent research. In fact, a McKinsey survey revealed that 43 percent of executives in the U.S. and Europe think analytics and big data will be the most important digital competencies within three years.