Working out which data matters most is the top challenge for firms. For companies seeking to gain more strategic insights from their data, many hurdles await. Whether organizational silos, a lack of skills, the usual disconnect between IT and the business, or worries over data quality, few consider the challenges and gaps easy to bridge. But clarity on which data matters most, amidst the data stockpiling now under way, is what tops the list of barriers, according to 40 percent of respondents. Furthermore, 34 percent of executives worry that the quality of their decisions are actually being impaired by data overload.

Many companies are unsure about the extent of data-fuelled strategic transformation within their business. While 68 percent of respondents think their strategy has improved in the past two years as a result of having more data, only 18 percent see a significant improvement in strategy, and few have found ways to use data to make a genuinely transformational shift in the business. Some 35 percent of executives agree that data has been more useful with operational choices and actions, rather than strategic ones. Just 22 percent disagree, while 41 percent are unsure.

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