Download Data dominates: capitalizing on digital to

Unlock data possibilities
Data dominates: capitalizing on digital to
engage customers, find talent, and more
2015 US CEO Survey
Leading in
extraordinary times
CEOs know there will be more options to weigh, more
data to mine, and more cyber threats to worry about. But
they’re looking to digital tools like data analytics, mobile,
cybersecurity, and the Internet of Things to help them seize
bigger opportunities. Collectively, these will power data-driven
decision making—by both CEOs and customers—and spark new
ways to distinguish your business.
What the survey says
CEOs are seeing the value in unlocking data possibilities through
digital technologies, but there’s room to do more, especially
around decision-making.
84% of CEOs globally (89% in the US) say digital technologies were creating
‘quite high’ or ‘very high’ value through data and data analytics—second only
to value through operational efficiencies (88% globally and 84% in the US).
Industry-wise, CEOs worldwide from banking and capital markets, healthcare,
hospitality and leisure, and insurance most see tech’s value in data and data
analytics (90% each).
Ranking near the bottom of the list—below collaboration, digital trust,
innovation capacity, and distribution capabilities, among other organizational
areas—63% of CEOs globally and in the US—see ‘quite high’ or ‘very high’
value in using digital for strategic decision making. Which industries’ CEOs are
most convinced? In healthcare (76%) and communications (75%).
Continued on the next page
2015 US CEO Survey | Top findings
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Unlock data possibilities
Continued
What the survey says
And that means prioritizing technologies for collecting, mining, and
safeguarding data from customers—and the Internet of Things.
81% of CEOs globally (80% in the US) say mobile technologies for customer
engagement are ‘very’ or ‘somewhat’ strategically important to their organizations.
CEOs in the communications industry most felt this way, with 98% saying so.
80% of CEOs globally (88% in the US) felt the same about data mining and
analysis. This was most prevalent for CEOs in insurance (93%), mining (92%),
and healthcare (90%), the industries where most CEOs ranked it as ‘very’ or
‘somewhat’ strategically important.
78% of CEOs globally (89% in the US) say cybersecurity is ‘very’ or ‘somewhat’
strategically important to their organizations, with the most saying so in the
banking and capital markets industry (93%).
65% of CEOs globally (58% in the US) say the Internet of Things, which will
produce an avalanche of data, is ‘very’ or ‘somewhat’ strategically important to
their organizations. This view was especially common in the technology and
communications industries, with 85% of CEOs in both ranking it as such.
Companies are also beginning to consistently apply analytics to gain insights
around talent, yet other efforts are more prevalent.
46% of CEOs globally (40% in the US) say that they always use data analytics
to gain better insight into how effectively skills are being deployed in the
organization. Of all the industries, the largest response to agree with this statement
came from CEOs in communications (63%).
At the top of CEOs’ talent agenda: 78% of CEOs globally (and 92% in the US)
always use multiple channels to find talent, including online platforms and social
networks; and 71% of CEOs globally (85% in the US) actively search for talent in
different geographies, industries, and demographic segments.
In making the most of data, CEOs also look beyond their own walls to
consider its security and movement.
61% of CEOs globally (and 86% in the US) view cyber threats, including a lack
of data security, as a threat to their growth prospects. CEOs in the banking and
capital markets (79%), healthcare (71%), and insurance (71%) industries were
most concerned.
50% of CEOs globally (27% in the US) say cooperation among governments and
businesses is increasing cross-border data flows. The most optimistic CEOs came
from the power and utilities (66%) and pharma and life sciences (62%) industries.
2015 US CEO Survey | Top findings
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Unlock data possibilities
In their words
“The most important opportunity
the real safety and efficacy of the “Internally, we’re using and
is big data—the data economy,
product. That’s going to enable
mining data to understand how
machine-to-machine connections, us to educate physicians, patients, people are eating and what the
machine learning, the ability
and payers on how to better use
new flavor trends are so that we
to take data and turn it into
our medicines. We have millions
can develop new products, either
knowledge and insights. The cost
of data points to understand how
for our consumer business or our
to generate the data is coming
our medicines are actually perindustrial business with other
down quite dramatically. How
forming when they are marketed, food companies to help meet
do you analyze the important
because that’s where the majority those needs.”
parts of your business to make
of the use is going to be created.”
—Alan D. Wilson, Chairman,
better decisions more rapidly?
President and Chief Executive
—Joaquin Duato, Worldwide
Officer,
McCormick & Company
And don’t expect that you’re the
Chairman, Pharmaceuticals,
Johnson
&
Johnson
only guys doing this.… We see
the big data area, of all the major
“It’s all about who has access to
trends, likely to be the biggest
the customer and the ability to
contributor to the next trillion
introduce products and services
dollars of growth in the IT sector.”
that allow them to expand their
—Michael Dell, Chairman and
relationship with that customer.
CEO, Dell Inc.
The more they can put through
that infrastructure, the more data
“A variety of technologies are important for Johnson & Johnson to they have about what’s going on
continue bringing new medicines in the marketplace, and what’s
going on in that customer’s
and new solutions to patients. It
wallet daily. With that, they have
starts with high performance
the ability to produce more and
computing, which is going to enable us to have a stronger capabil- broader and deeper technologies
that allow them to meet more
ity in modeling which targets are
and
broader and deeper needs.”
more important for us, and how
to design our research to be more
efficient. Now, once our medicine
is on the market, we’re also going
to have, through better analytics,
a better capability to understand
—D. Bryan Jordan, Chairman,
President and Chief Executive
Officer, First Horizon National
Corporation
2015 US CEO Survey | Top findings
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Unlock data possibilities
Engaging customers and exploiting the Internet of Things—
data delivers for CEOs
How strategically important are the following digital technologies for your organization?
Mobile technologies for customer engagement
81%
Data mining and analysis
80%
Cybersecurity
78%
Internet of Things
65%
Socially enabled business processes
61%
Cloud computing
60%
Battery and power technologies
47%
Robotics
37%
Wearable computing
33%
3-D printing
27%
Base: All respondents (1,322).
Source: PwC, 2015 US CEO Survey, January 2015.
Next steps, next questions
Do you have a data-driven capability in your organization to predict the impact of economic
and market forces on your strategy and customers, and to gain insights for speedier decision making?
For a deeper
conversation,
please contact
In which areas of your business do you use data and analytics to consistently drive
value? Where can better data analysis make a significant difference in your decision making? To what
extent have you automated some decision making in your corporate functions?
Dan DiFilippo
Partner
+1 (646) 471-8426
[email protected]
How is your organization currently using data about customers to improve engagement,
inform products and services, or streamline processes? Is there also an opportunity around customers using
their own data more effectively? Have you considered how to make the most of data produced by sensors in
products (the Internet of Things) or within your business operations?
Paul Blase
Principal
+1 (312) 282-1015
[email protected]
Have your cybersecurity strategies kept up with evolving threats and changing
customer expectations around data security and privacy? Have you considered collaborating with
government or industry groups on data security?
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