Business Intelligence – Companies gathering data often don’t have a clue how to take advantage of it.

Despite its promise to revolutionize society, the deluge of data gushing from credit card transactions, social media posts, smartphones and other sources has largely gone unused because those gathering it often haven’t a clue how to take advantage of it.

If analyzed properly, experts say, this information tsunami could greatly enhance our knowledge, allowing for more accurate predictions about everything from our susceptibility to disease and natural disasters to our electricity needs and consumer preferences.

Yet recent studies have found that much of the compiled material is ignored, mismanaged or lost — particularly by businesses, which gather most of it. In a report this month by Oracle(ORCL), 93 percent of 333 executives surveyed estimated that failing to take advantage of all their information cost them an amount equal to 14 percent of their annual sales, on average. For a $100 million company, that’s $14 million every year.

By Steve Johnson [email protected]

Full Story: http://business-news.thestreet.com/mercury-news/story/data-flooding-society-not-being-properly-used-experts-say-1/1

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