New York—Although a large number of companies have adopted a data analytics strategy, 60% of management teams don't seem to have the right access to marketplace data needed to make strategic decisions about their social media or mobile media efforts, according to a study by auditing company KPMG.
The study, which was conducted during the Oracle OpenWorld conference in October, garnered responses from 370 executives.
The study found 39% of respondents either agreed or strongly agreed that senior management had access to the rising volume of data gathered from the marketplace necessary to predict the needs of their customers.
The study also found that 29% of respondents said advances in data and analytics would fundamentally change their business or industry in the next five years. However, 36% of respondents said it will be at least one to three years before their company can implement a data and analytics strategy that allows predictive insights into the market.