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BizReport : Research : October 21, 2015

Study: CFOs want single-source data information

Looking ahead to 2016, CFOs are looking for more streamlined data. That according to a new Adaptive Insights survey which found most CFOs believe siloed data (69%) and having inaccurate data (40%) for planning purposes are their biggest challenges moving forward.

by Kristina Knight

Data is everywhere - in our mailboxes, in our online history, on social media and through the newsletters we sign up for. This data makes it simpler for brands to serve relevant, engaging content, but the sheer amount of data is making it difficult for some businesses to know what their customers want. According to Adaptive Insights, as we move forward, CFOs want better access to timely, accurate data to better serve customers.

In fact, most believe that by 2020 the amount of data will have skyrocketed even higher and that has many already looking for a way to get a single source of data that can be relied upon. The survey found one-third of CFOs believe the amount of data they deal with will increase by at least 50% over the next five years.

As for the data they need the survey found:

• 58% say sales data is the most important non-financial data they need, one-third believe sales execution data is most-needed
• 47% are manually aggregating data from different sources
• 62% have not been able to drill those different sources into a 'single truth' they can use to engage
• 59% believe predictive analytics are important for forecasting, 41% say they aren't sure

Tags: Adaptive Insights, advertising, data, data collection, data trends, ecommerce

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