Transforming Data into Business Value through Analytics and AI
Over the past two years, the business world has been disrupted by the Covid-19 pandemic, a shift to remote work, digital customer experience revolutions, ongoing supply chain turmoil, and an economic slowdown.
Data-driven enterprises—those able to make real time decisions based on high-quality data—were best positioned to navigate unrelenting upheaval. Many companies clearly recognize the value of data, analytics, and artificial intelligence (AI) to their business performance in responding to this turbulence.
Eighty-one percent of the 366 executives Harvard Business Review Analytic Services surveyed in November 2022 who are familiar with their organization’s data and analytics strategies indicate that their companies responded to the disruptions and events of the previous two years by increasing their investment in data and analytics initiatives overall, and 58% increased their investment in AI initiatives. In addition, 53% of respondents say their organizations accelerated previously approved data and analytics initiatives over the past two years, and 33% report an acceleration of previously approved AI initiatives during the same period.
