Insights on the Australian market from PwC’s Global Data and Analytics Survey 2016
Over the last few years, digital acceleration coupled with global shifts in economic power have altered the playing field for companies around the world. Advanced analytics and machine learning – technologies that once seemed like beacons from a distant future – are increasingly available and accessible to businesses. The ability to make intelligent decisions that drive growth, disrupt the market and capitalise on emerging opportunities is now linked less to gut feel and industry knowledge and more to predictive and prescriptive analytics, artificial intelligence and data-driven insights. Gaining competitive advantage is no longer about accepting the status quo or relying on age-old traditions. It’s about mustering the courage and commitment to harness both mind and machine.
PwC’s Global Data and Analytics Survey 2016: Big Decisions, which captures the ground-level view across 2,100 global and over 120 Australian C-suite leaders, business unit heads, and SVPs, provides a compelling snapshot of the ways in which advanced analytics, machine learning and data-driven decision-making are steering the trajectories of businesses worldwide. This paper draws on insights from the Global Data and Analytics Survey to explore the ways in which Australian businesses are adopting advanced analytics. By focusing on challenges and opportunities unique to the Australian landscape, it identifies the directions that are worth embracing as the new age of artificial intelligence draws near.
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