Capgemini has found that organizations are increasingly integrating data and insights into their core business processes. This update to a 2020 study was based on a survey of 500 business executives and 500 data executives from 500 organizations in 12 countries. In 2024, 60% of executives described their decision-making as data-powered, a 10% increase from 2020.
The study also shows that organizations are becoming more sophisticated in unlocking and quantifying the value of data and AI. Some are even monetizing their data, either through selling to third parties or generating actionable insights. In the UK, investment in analytics tools has increased from 64% in 2020 to 81% in 2024, with the ability to introduce new products and services using data increasing from 58% to 75%.
Overall, there has been an 8% increase in the proportion of executives seeing data as an enterprise asset, with more organizations quantifying the value of data in their accounting systems. The percentage of organizations monetizing data assets through their products and services has also increased.
To support the increased use of data, organizations have strengthened their infrastructure, tools, and platforms since 2020. There has been a 9% increase in the adoption of data analytics in the cloud, with over three-quarters of executives reporting investment in data analytics tools.
A senior executive from a European bank mentioned in the report highlighted how modernizing IT allows for better management of data volumes, harnessing unstructured data, and accelerating AI development. Capgemini predicts a significant increase in the amount of data created globally by 2025, mainly unstructured data in the form of videos, emails, images, and social media content.
This poses challenges for integrating unstructured data with structured data and storage-data redundancy from an IT infrastructure perspective.