The growing value of data is indisputable. This year’s merger between S&P and IHS Markit is just one example of how powerful today’s data economy is, as major companies vie for competitive advantage through strategic partnerships. And the thirst for data is a trend across all industries.

But it’s not enough just having the data - it’s about how you use it. The words of Jack Treynor, a prominent financial academic in the 1960s, still ring true: “you may not get rich by using all the available information, but you surely will become poor if you don’t”. Data innovation – defined as the reinvention or fundamental transformation of business processes through new types of data analysis – is a game changer in any market and any sector. A recent global survey on 2,000 organisations shows that leaders in data innovation tend to overshoot their earnings targets at twice the rate of beginner-level businesses, report up to 9.5% increase in profits, and are on average three times more likely to beat competitors to market. Data innovation can increase data monetisation, accelerate product and application development, improve customer experience, optimise supply chain and manufacturing operations and strengthen security. 67% of data innovation leaders admit that their data is growing faster than their ability to keep up. Which says a lot for those with less mature data strategies.

Yet while the benefits are clear to see, why are more companies not exploiting these opportunities? What are the inhibitors of building a data innovation strategy, how does a data innovation strategy actually get implemented, and who is doing this successfully? This webinar, organised by FT Live in partnership with Splunk, addresses these challenges and more, sharing experiences from companies from different industry sectors who are diving deep into the data well.

Understand

The big picture, not just the individual strands of the business you work in

Connect

And build relationships with some of the biggest names in your industry

Discover

New approaches and strategies to help win market share

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