Accenture Study: Australian Organisations Lagging in Data Satisfaction
Seventy-eight percent of Australian executives from companies that are applying big data to their businesses said they are “very satisfied” or “satisfied” with the results, according to new research by Accenture.
Similarly, 70 percent of respondents rated big data as “very important” or “extremely important” to their businesses’ digital transformation. Both findings indicate a lag behind the global survey results of 92 percent and 89 percent, respectively.
According to the Accenture Analytics’ Big Success with Big Data Report, Australian organisations use big data extensively or moderately to: identify new sources of revenue (86 percent), retain and acquire customers (80 percent), and develop new products and services (80 percent).
Asked where they expect big data to have the biggest impact on their organisation in the next five years, 66 percent of executives said “changing the way we organise operations,” 62 percent mentioned “customer relationships,” and 52 percent said “product development.”
Despite this, only 58 percent of Australian executives believe big data provides a significant source of value for their organisation, which is significantly behind the global average of 82 percent. Additionally, Australian organisations are far less likely to use big data as a way of remaining competitive (34 percent), compared to 58 percent of global respondents.
“There is a clear disconnect between the confidence Australian leaders have in big data solutions, and the value these solutions can deliver, particularly as organisations look to become more digital,” said Michael Pain, Accenture Analytics lead for Australia, part of Accenture Digital. “There is a direct correlation between leadership support and big data success. So for Australian organisations to drive real business outcomes, there needs to be alignment and investment in big data solutions at both a strategic and operational level.”
Australian executives also highlighted the following challenges when implementing big data in their organisations: budget (the greatest challenge cited by 54 percent); integration with existing systems (48 percent); security (44 percent); and lack of talent to run big data and analytics on an ongoing basis (42 percent).
Recommendations for Big Data Success
For Australian organisations and executives to get the most from their big data projects and help mitigate these challenges, the research report outlines the following key recommendations:
- Operationalise the use of big data platforms, at scale – Don’t just target big data as a new source of information, target core processes such as cross selling or supply chain management for significant improvements via the use of big data platforms.
- Build big data into your customer experience agenda – Big data platforms have the ability to personalise and transform the customer experience and as a result it should be built into innovation agendas.
- Educate and energise the c-suite – C-level executives should take the lead on implementing big data platforms for broader business success. While thirty-six percent of Australian respondents note management and the c-suite extensively understand and support big data initiatives, 50 percent state leadership moderately support the initiatives.
- Build a talent strategy – With talent listed as one of the biggest big data challenges, organisations need to build the big data skills of existing employees through training and development. Fifty percent of executives said their companies have already developed internal technical training opportunities for their employees. Most organisations also tap outside expertise; a mere 10 percent of respondents said their company used only internal resources for their big data implementations.
“Our survey shows that Australian organisations are underestimating the potential of big data and there is considerable opportunity for them to get more value out of their analytics initiatives,” said Pain. “Analytics success takes a strong investment of resources and attention, as well as an understanding that big data implementations can be strategic and highly impactful.”
Latest News
me&u Appoints Clementine Churchill To Head Of Marketing
me&u, Australia’s first and leading mobile ordering and payment platform, has appointed Clementine Churchill as Head of Marketing as they continue to drive rapid growth and expansion in Australia and new international markets. A highly experienced marketing leader and recognised industry thought leader, Churchill joins me&u from My Muscle Chef, one of Australia’s top rated […]
MILO Asks Fans To Compete To Win #TheMILOCup In New Campaign Via Ogilvy
MILO is on the search for Australia’s best made MILO, calling on fans to share their creations for the chance to win #TheMILOCup, via Ogilvy Sydney. This integrated campaign follows on from the success of last year’s ‘Hot v Cold’ campaign, which encouraged Aussies to settle the debate on whether MILO is best enjoyed hot […]
New ANZ Research Shows That LGBTQ+ Visual Representation Relies On Stereotypes
New research from Getty Images, a world leader in visual communications, has found that LGBTQ+ representation in ANZ remains low and stereotypical. It’s 2021 – this needs to change – especially in marketing and advertising. In partnership with GLAAD, the LGBTQ+ media advocacy organisation, Getty Images has launched a full-spectrum Guidebook in direct response to […]
Nikki Warburton Departs Audi Australia After Three Years Spent Embracing Vorsprung Durch Technik
Audi CMO Nikki Warburton has left the business. Sadly, didn't receive Sound Of Music on Blu-ray as departing gift.
Lego Announces Plans To Start Making Bricks From Old Drink Bottles
Once again the Scandinavians proving they're on it when it comes to the environment, DIY furniture & adult erotica.
NESCAFÉ Says ‘Now’s Good’ In New Work Via Saatchi & Saatchi
As any visitor to the B&T office knows, you'll get a NESCAFÉ, a Scotch finger & a rendition of Cher's "Turn Back Time".
Craig McLachlan Accused Of Groping Another Woman
Surely, serious concerns should've been raised about Craig McLachlan's behaviour when he recorded "Mona" back in 1990?
REMINDER: Entries For B&T’s Best Of The Best Awards Close Tomorrow!
Has a colleague recently won a 'I look like my cat' competition? That's the temerity required to win a Best of the Best.
More Heat For Coke’s Customisation Tool As It Bans ‘Palestine’, ‘Black Lives Matter’ And ‘Mohammed’, But Not ‘White Pride’
Coke's week from hell continues apace! However, it's primed & ready to remind Pepsi of its own 'Kendall Jenner' episode.
“You Cannot Be Serious!” New Campaign Shows Wimbledon Is A Global Force
Wimbledon kicks off NEXT Monday with high hopes the Aussie male contingent will completely embarrass us all as usual.
Marks & Spencer Confronts Traditional Classifications Of ‘Nude’ In New Underwear Range
If Marks & Spencer excels at anything it's quality underpants, Christmas puddings & white nostalgic British imperalism.
Oasis Still Flogging Back Catalogue In Schmaltzy Outing For Bank Ad
B&T says crank this Oasis-led bank ad up to full volume. At least until a colleague says "turn that f@cking shit down".
Dir David Attenborough’s Life Stories Launches On LiSTNR
Natural historian Sir David Attenborough is one of the most commanding and respected storytellers in the world and now the iconic series, David Attenborough Life Stories, is available on LiSTNR as part of SCA’s recently announced partnership with the BBC. David Attenborough Life Stories is a series of talks on the natural histories of creatures and […]
Menulog Makes Key Marketing Promotions
Menulog has doubled down on its marketing support for restaurant partners, with the promotion of Senior Marketing Manager, Rami Tamer, to a newly created role of ‘Head of Partner Marketing’, as well as the promotion of former-Blue 449 Performance Manager, Jaryd Buggins. In the new Head of Partner Marketing role, Rami will lead a team […]
Barry Drinkwater Leaves ARN Brisbane After 28 Years, Will Hand Over Reins To Alisson Longhurst
ARN has announced Barry Drinkwater will be handing over his content director reins at 97.3FM and 4KQ to respected radio executive, Alisson Longhurst. Drinkwater has had a stellar career in radio spanning more than four decades, and was acknowledged as one of Australia’s Top 20 Content Directors by Radio Today in 2020. He began his radio career […]
Why Pissed Off Customers Can Be A Brand’s Biggest Fan
Do your customers hate your guts? Don't send them faecal matter in the post says this pro, rather harness their power.
The Big Issue Celebrates 25th Anniversary With New Campaign, ’25 Years Big’, Via Town Square And Carat
Australia’s largest social enterprise is turning 25. On the anniversary of Australia’s first Big Issue magazine being sold on the steps of Melbourne’s Flinders Street Station in June 1996, Town Square has created a campaign to mark the occasion. 25 Years Big is a celebratory statement of pride, rendered in the iconic Big Issue logo […]
Australian Radio Industry Joins Global Working Group On Android Automotive
The Australian commercial radio industry has joined a global working group of broadcasters, carmakers and tech experts collaborating on the innovation of radio in Android Automotive. Android Automotive is Google’s infotainment operating system which is being built into new connected cars. Industry body Commercial Radio Australia is part of the working group, led by the […]
“Man Of The Year!” Vox-Popped Pensioner’s Heartwarming Views On Immigration Becomes Viral Smash
B&T has chosen to lead with these delightful, life-affirming words of wisdom. And let's be honest, we hate that shit.
SBS Appoints Head And Commissioning Editor Of Scripted, Boosting Drama Team
Want to feign being smarter than you really are? Well, you could watch SBS or listen to Radiohead's earlier stuff.
Amy Shark, Delta Goodrem And Guy Sebastian To Guest Host iHeart Radio’s TikTok Trending
iHeart Radio wheels out Oz music royaty in Amy, Delta & Guy. Yes, Guy's arguably more the 'Prince Andrew' of the three.
Triple M’s No Talk Day Returns To Inspire Conversation Around Men’s Mental Health
For the third consecutive year, Triple M’s No Talk Day will return on Thursday July 1 to raise awareness around men’s mental health and encourage courageous conversations on Triple M’s 45 stations across the country with support from partner Beyond Blue. From 6:00am – 6:00pm on July 1, Triple M is encouraging listeners to clear […]
Wednesday TV Wrap: With No Hard Quiz, Travel Guides Easily Wins Non-News Programming
Other than naked squash or having your privates waxed, is there anything better on a Wednesday than a night of telly?
Thrive PR Wins SodaStream Account
The farting in the Thrive PR office rises expodentially after the agency snares the SodaStream business.
72andSunny Sydney Promotes Ross Berthinussen To President Following Chris Kay’s Shock Exit
72andSunny Sydney promotes Ross Berthinussen. Again, confirms it has no plans to revert to Celsius.
Rebounding Ad Industry Sees Google Jump Up Most Valuable Brand Ranks
The latest global brand rankings are in & B&T can confirm they come with about as much shock as licking an AAA battery.
Taiwan Receives First-Ever Grand Prix In Cannes Lions Live Day Three, While Lil Nas X, Fortnite & Tinder Win Big
It's all the news from Cannes while you were sleeping, unless you're an insomniac. Then you probably know it already.
62% Of Shoppers Doing Most Of Their Purchases Online: BigCommerce And PayPal Report
Consumer shifts in how and where people buy products evolved significantly during the COVID-19 pandemic, creating new opportunities for retailers to use new channels, fulfilment strategies and payment options, according to the results of a new survey out today from BigCommerce and PayPal. While a majority of the 3,000 consumers surveyed from the United States, United Kingdom […]
From ‘Over-Contextualising’ To Updating Creative: Everything You Need To Know About Contextual Advertising
Here is EVERYTHING you need to know about contextual advertising bar the curling wand and the hot pink leg warmers.
New Talent Agency, Liquorice Plants Roots In NZ
The brainchild of co-founders Gina Williams-Folau (main photo) and Greer Bland, the talent agency Liquorice was born out of a desire to make things easier for brand managers. Liquorice offers social talent for brands wanting to hit the sweet spot with Kiwi audiences. Launching with a roster of big names on board including Millie Elder-Holmes, Athena […]
