In the wake of the financial crisis and subsequent regulatory and compliance initiatives across Europe, businesses have discovered the importance of big data and analytics to their short- and long-term success. Yet current accounting methods struggle to reflect data as a valued asset on company balance sheets.
The report by the Centre for Economics and Business Research (Cebr) discusses companies' ability to use the insight gained from big data analytics to improve customer relations, streamline production and develop new products. Because data can deliver future economic benefits, it should be regarded as a company asset.
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