Why are we doing this?
We are living in the midst of a data revolution: more about our lives is recorded digitally, and hence available for analysis, than ever before – from transactional data, to social network data, to text, sound and image data.
This analysis can help businesses learn faster, predict better and build new products and services completely based on data (for example, search and recommendation engines, or matchmaking platforms).
However, there is still a lot we don't know about how businesses can generate growth through their data:
- What skills are needed? Is the education system ready to provide them?
- What are the implications of the data revolution for the organisation of the workplace?
- What are the limits of big data?
Answering these questions is critical for policy and practice - and this is what our programme of research on data-driven innovation sets out to do.
What are we doing?
We are examining the link between data practices and business performance.
We are studying the knowledge and skills that data talent needs to have in order to produce an impact in their organisations. As part of this, we want to find good practices for the management of data talent within business, and also to identify if there are any data skills shortages.
We are thinking about what practical interventions could be used to build up the data capabilities of UK businesses.
In Rise of The Datavores we present the findings of a survey looking at the adoption of online data practices by a group of UK businesses.
This report looks at how only a small minority of UK businesses use data analysis despite the significant benefits.