How are CEOs accelerating enterprise value with data?

To lead their organisations and successfully accelerate value from technology investments, CEOs are increasingly reliant on a vital resource: accurate and timely data. It’s a key differentiator for leaders looking to enhance efficiency and gain a competitive edge, enabling informed decision-making, strategic planning and confident identification of new opportunities.

We recently surveyed 600 CEOs across the UK, US and Netherlands to learn about their biggest data concerns; from cyber breaches to surviving without a data-driven culture. To better understand the landscape and inform your strategies, download our 'CEO Digital Divide' report.

CEOs recognise that they can’t succeed without a data-driven culture

From financial forecasting to hiring strategies, right through to driving pipeline and revenue, the power to make informed decisions hinges on the availability of timely and precise information. With that in mind, building a data-driven culture has rapidly become a cornerstone of organisational success. Disconcertingly though, nearly half of business leaders (48%) believe that the absence of a data-driven culture as a serious threat to their company’s survival.   

Data security is paramount for CEOs

Acceleration of an organisation’s 'data journey' is no longer just an advantage - it's an absolute necessity. In the face of stiff competition, leaders are striving to drive revenue and maintain customer satisfaction through rapid data adoption. Alongside this comes the increasing regulatory scrutiny on companies mismanaging customer data or failing to safeguard confidential information - an issue that can no longer be relegated to just a compliance matter.

CEOs are increasingly concerned about data protection, with 42% admitting to a perpetual fear of a cyber breach. Reassuringly though, this fear is being translated into tangible action with 59% of CEOs directing a considerable portion of their budgets towards bolstering cybersecurity. However, the emergence of AI has complicated things, with 52% of CEOs citing AI as a factor likely to heighten the risk of cyber security issues.

CEOs are prioritising their data strategies

Our research points to a frenzied rush among CEOs to develop and execute a robust data strategy, often before the basic preconditions for effective data utilisation are in place. It’s critical that business leaders pause to understand that fostering a data-driven organisation requires meticulous planning. If they do this correctly, they can ensure minimised risks and optimised data platforms and processes to accelerate value from their data.

The secret to accelerating value from data

Unlocking the full value of data requires a shift in mindset for the whole organisation. It's not just an IT task; it's a collective effort where every individual contributes to securing, enriching, and leveraging data to its maximum potential. This inclusive approach fosters strategic decision-making and consistently outstanding customer experiences.

Visionary leaders recognise that a comprehensive data strategy is key to driving value creation. By seamlessly integrating data into the fabric of their organisations, they not only mitigate potential risks but also propel their businesses toward sustainable growth and innovation. Embracing this holistic approach enables companies to outmanoeuvre competitors, achieve unmatched agility, and genuinely accelerate value creation through data.