This report looks at how only a small minority of UK businesses use data analysis despite the significant benefit it brings.
- Of 500 UK companies asked how they make decisions to grow their sales, only 18 per cent use data and analysis.
- We've called these 18 per cent the Datavores
- Datavores are twice as likely to run controlled experiments to see what works
- Datavores are three times as likely to use customer data to develop their business strategy
- Datavores are 25 per cent more likely to say they launch products and services before competitors
The internet economy is growing, and so is the amount of data that it generates.
Are UK businesses making the most of this data to innovate and grow? Or are they missing out on the opportunities of online data?
A business survey by Nesta shows how a small but significant group of UK companies - the Datavores - are making sophisticated use of data to drive business decisions.
This publication illustrates both the opportunities and challenges that online data presents for UK businesses.
Hasan Bakhshi and Juan Mateos-Garcia