Briefing: Inside the Datavores
How data and online analytics affect business performance
This briefing paper describes the background, data, method and findings of our analysis of the link between data activity and business performance.
- Using data has a positive impact on the business bottom line
- Businesses that use their data more intensively are 8% more productive
- Businesses that perform deeper analyses of their data see a boost in profits of £3,180 per employee.
- Businesses that empower employees to act on their data benefit from this data four times as much as those that don’t
Big data has been touted as a vital resource for business but until now there has been little hard evidence of data’s positive impact on the bottom-line.
In this briefing, we summarise the findings of an econometric analysis of the link between data activity and business performance in a sample of 500 UK companies that are active online (for a full description of our method and findings, see the full technical report)