BANGALORE:  Ninety-two percent of executives from companies that are applying big data to their businesses said they are satisfied with the results, according to new research by Accenture.

Eighty-nine percent of respondents rated big data as “very important” or “extremely important” to their businesses’ digital transformation, and 82 percent agreed big data provides a significant source of value for their companies.

The study is based on a survey of chief information officers, chief operating officers, chief data officers, chief analytics officers, chief marketing officers, chief financial officers and other senior technology, data and analytics leaders from companies in 19 countries across seven industries.

“Businesses are at a transition point­­ where instead of just talking about the potential results that can be achieved from big data, they are realizing actual benefits including increasing revenues, a growing base of loyal customers, and more efficient operations,” said Narendra Mulani, senior managing director, Accenture Analytics, part of Accenture Digital. “They’re recognizing that big data is one of the cornerstones of digital transformation.”

For example, using anonymized customer attributes and geolocation data from its WiFi access points, a Japanese telecommunications provider offers consumer companies a platform to target promising customers with mobile advertisements in real-time. Also, a British utilities company processes data in real-time from sensors in water pipes to better anticipate equipment failures and respond faster to leaks and adverse weather events.

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