Data Usage for Business Innovation is Increasing in the US

Economics & Macro

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Adi Ahdiat 06/12/2024 16:53 WIB

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According to a Wavestone survey, the trend of using data to drive business innovation is increasing among US Fortune 1000 companies.

Proportion of US Companies Driving Business Innovation with Data (2019-2024)

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Proportion of US Companies Driving Business Innovation with Data (2019-2024)

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The use of data to drive business innovation is increasing in the United States (US).

This is evident from the *Data and AI Executive Leadership Survey 2024* report released by Wavestone, a multinational business consulting firm.

Wavestone surveyed approximately 100 companies from the Fortune 1000 list of the largest corporations in the US.

Some examples include American Express, Berkshire Hathaway, Chubb, Mastercard, Bridgestone, Dell, General Motors, Hewlett-Packard, Pfizer, Unilever, Bloomberg, Facebook, and Universal Music Group.

Respondents were executives responsible for data, technology, business, marketing, and other areas within their companies.

Approximately 90% of respondents held positions such as Chief Data Officer, Chief Data & Analytics Officer, or Head of Data/Analytics/Artificial Intelligence.

Wavestone found that in 2015, only 59.5% of respondents used data to drive business innovation in their companies.

Thereafter, the proportion fluctuated with an upward trend, reaching 77.6% in 2024, as shown in the graph.

"Data-driven transformation is a gradual process for most companies," according to the Wavestone report.

"Change is never easy, and for mainstream Fortune 1000 companies, this transformation effort has been ongoing for years, even decades," it continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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