Collaboration for innovation
As datasets and analytical capabilities grow , senior executives believe that a collaborative approach to data will be fundamental to improving global stability and security . While over a fifth ( 23 %) do not know how to use data in a way that has a human impact , many feel that collaboration can benefit humanitarian purposes , innovation , as well as profitability .
With an expectation to increase their revenues by 50 %, the study also finds that companies will invest an average of US $ 3million in data technology and initiatives over the next 12 months .
Businesses are already sharing data with external partners and organisations to help improve education ( 46 %) and commerce ( 46 %), strengthen democracy and human rights ( 44 %), support environmental initiatives ( 43 %) and enable innovation ( 43 %).
Those yet to participate in data partnerships and ecosystems cite cost as the biggest barrier ( 60 %), followed by concerns around security ( 57 %) and risk and compliance ( 57 %).
They also better understand the importance of data in solving these challenges and their most effective use of data is in progressing environmental , social and governance ( ESG ) initiatives ( 96 %). In contrast , only a minority ( 41 %) of Data Followers say they are effective here . p
The Data Leaders
Lenovo ’ s research identifies an elite group called the Data Leaders , making up 15 % of the sample and Data Followers , making up 37 % of the sample .
Over the next three years , the Data Leaders are more likely than the Data Followers to be taking action against the energy crisis ( 60 % of Leaders vs 33 % of Followers ), poor healthcare ( 29 % of Leaders vs 18 % of Followers ), poor education ( 61 % of Leaders vs 25 % of Followers ) and global warming ( 34 % of Leaders vs 29 % of Followers ).
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