Tag: survey

1 in 3 Irish businesses use AI to help detect fraud

More than 9 in 10 (94%) of Irish businesses are using Artificial Intelligence, a survey has revealed.

This is according to research from insurance broker and risk management company Gallagher in Ireland, which found that only 3% of Irish businesses are not using AI. By comparison, the same survey in the UK found that 15% of businesses are not using AI.

Commenting on the survey findings, Laura Vickers, Managing Director of Commercial Lines in Gallagher said:

“AI is transforming the way we live and work, with our survey showing that most Irish businesses are already using AI, and for a myriad different reasons.

Recent years have seen AI advance in leap and bounds. AI arguably has much greater potential to transform the workplace than previous breakthrough technologies, such as the internet and smartphones, have. AI can be used to drive innovation in a business and to make work processes more efficient, freeing up the time of employees. It can also help detect fraud and to reduce customer service costs.”

Gallagher commissioned a survey of 300 business decision makers across the UK & Ireland, 100 of whom are based in Ireland.

The survey identified the top 8 reasons employees in Irish businesses use AI:

  1. To improve customer service and support         (43%)
  2. To be able to gather better data and insights that will benefit their business and customers (41%)
  3. To improve customer experience and engagement (39%)
  4. Supply chain management (37%)
  5. To provide an extra layer of IT security to the business (35%)
  6. To help detect fraudulent activity (34%)
  7. To automate business processes and free up the time of colleagues (30%)
  8. Accounting (18%)

Ms Vickers added:

“Whilst AI has the potential to deliver many benefits to businesses, there are valid concerns around the power of this technology, including privacy, misinformation and its potential to lead to job displacement. It’s important that business leaders ensure their employees are supported and trained in the use of the technology and that they have adequate cyber cover in place to help protect their businesses.”

Geographic differences on AI

The survey revealed some interesting geographic differences when it comes to the use of AI in the workplace including:

  • Businesses in Dublin (43%) and Munster (40%) are the most inclined to use AI to help detect fraud (see Table 2 in Appendix). Businesses in Connacht are the least likely to use the technology to help detect fraud, with only one in ten (11%) doing so, followed by businesses in Ulster (25%) and Leinster (29%).
  • Munster businesses are the most inclined to use AI to provide an extra layer of IT security for their business. The survey found that six in ten (60%) businesses in Munster use the technology for this reason compared one in four (24%) in Leinster and one in three (33%) in Dublin.
  • Businesses in Munster are the most likely to use AI to improve customer service and support with 60% doing so compared to one in three (33%) firms in both Leinster and Connacht.
  • When it comes to using AI to free up the time of colleagues, Dublin businesses are the most inclined to do so (39%).

For further information, please visit: https://www.ajg.ie/

Tesco Mobile Ireland Survey Reveals Digital Clutter, Streaming Regrets, and Pet Obsession

A new survey commissioned by Tesco Mobile Ireland has unveiled a nation grappling with digital clutter, streaming service regrets, yet a unified picture of mobile habits, with the majority of users relying on their devices for the same core activities: chatting, scrolling, and sharing. This proves that everyone does the same things with their phones, but with Tesco Mobile Ireland, customers can get the same coverage and reliability of a big network, but with the great value and service of Tesco.

The survey also reveals that while Irish consumers are savvy in managing their core digital needs, they often feel shortchanged in other areas of their lives.

More than 1 in 3 people (37%) admit to having more apps than they need on their mobile phones with a staggering majority (92%) admitting that they have apps on their phone that they never use. However, the focus remains on essential communication, with calls and messaging dominating usage, particularly among female consumers.

Unsurprisingly, messaging and social media apps came out on the top as the types of apps consumers use most frequently at 76% and 73% respectively with a significantly higher percentage of females (85%) using social media apps compared to males (65%). The data points to a broader trend: despite the endless variety of apps available, most consumers ultimately gravitate toward the same digital habits.

Streaming Subscriptions: More Regret Than Reward

Streaming services and subscriptions, however, emerged as a source of regret and dissatisfaction for many. 67% of consumers subscribe to more than one streaming service, yet only 31% use all their subscriptions each week. Additionally, over half (55%) have regretted subscribing to streaming services which points to consumers increasingly scrutinising the value of their digital subscriptions. This is also evident when it comes to mobile phone plans with 60% of consumers comparing mobile plans at least once a year to ensure they are getting the best deal.

“Our survey shows that Irish consumers are increasingly discerning, focusing on what truly matters in their digital lives. They want value, simplicity, and reliable connectivity, which is precisely what we offer.” said Sean Nolan, Director of Tesco Mobile Ireland.

Paws, Pics & Priorities: The Pet Obsession is Real

Elsewhere, the survey found that when it comes to consumers using their phones to capture everyday moments, more than a third (36%) of pet owners say that they use their mobile phone to take photos of their pets daily with over half (56%) of consumers admitting that they have 50 photos of their pets, and a select few (7%) have over 1,000! Even among parents, 62% say they take more pictures of their children, but 17% confess to prioritising snapping pictures of their pets instead.

The findings also reveal a significant level of dissatisfaction with the value received from gym memberships (50%), indicating a broader trend of consumers feeling shortchanged.

Sean Nolan added, “Consumers are clearly looking for value across all aspects of their lives. Tesco Mobile Ireland is committed to delivering that value, ensuring our customers get the most out of their mobile experience. With the added benefits of Clubcard vouchers and exclusive Clubcard Prices, our customers can enjoy even more rewards just for staying connected.”

Tesco Mobile remains the only mobile operator in Ireland to have guaranteed no price increases for its customers consistently for the last four years.

With nearly 500,000 customers enjoying Tesco Mobile’s award-winning customer service and 99% population coverage powered by the Three network, there’s never been a better time to switch and lock in great value. Whether you’re already with Tesco Mobile or considering making the move before another provider hikes your bill, now’s the time to take advantage of Ireland’s best mobile commitment.

Fancy a laugh? Check out the latest ad from Tesco Mobile Ireland!: https://youtu.be/e1DpI74yelU

Just over half (54%) of companies have formal sustainability policy in place

Techies Go Green has revealed the findings of a recent survey which found that just over half (54%) of companies have a formal sustainability policy or strategy in place.

The research – which involved 41 business and technology professionals – found that a further 39% are developing a formal sustainability policy or strategy.

Almost three quarters of respondents (73%) said sustainability is very important in their company’s overall strategy. Furthermore, some 63% include sustainability criteria when selecting partners or suppliers.

Despite this, 29% of technology or business leaders do not currently track their carbon emissions and 32% track them but have not set specific targets. Meanwhile, less than a third (32%) of organisations publicly report on their sustainability efforts. Of those who do not, 35% are planning to start.

The research was conducted to mark Techies Go Green Live, the first live event hosted by the community which saw more than 100 Techies Go Green members discuss strategies that enhance sustainability practices and reduce carbon footprints.

The event comes as Techies Go Green reaches new heights, having surpassed 600 members across Ireland and abroad. Over the next 18 months, it is aiming to grow to 1,000 members.

The community has also developed a Climate Action Roadmap – a strategic guide offering 100 actionable options to help organisations reduce their carbon footprint and advance towards net zero.

Speaking about its latest survey findings, Michael O’Hara, Co-Founder of Techies Go Green, said: “It’s understandable that businesses are at different stages of their green journeys and while our research indicates that more progress is needed, the outlook is promising. Not only are organisations placing more of a focus on sustainability, but they are also implementing formal policies and joining communities like Techies Go Green.

“Our reach, as demonstrated by our rapidly increasing membership base, will only continue to grow. Furthermore, the ways in which we are supporting companies in achieving their climate goals will only continue to expand – for instance, through our Climate Action Roadmap. In turn, this will help to drive real impact for businesses and their customers, as well as the planet.”

Almost a third of businesses in Ireland using unapproved AI tools daily

Datapac, Ireland’s leading ICT solutions and services provider, today announces the results of a new survey which explores the use of AI tools and applications within Irish-based organisations. The survey of IT decision-makers in Ireland found that a significant majority (84%) of businesses are already using AI tools in their day-to-day operations. However, nearly a third (30%) reported that employees within their organisations are independently sourcing and using unapproved AI tools.*

The independent survey, commissioned by Datapac and carried out by Censuswide, gathered insights from 200 IT decision-makers across various industries in the Republic of Ireland and reveals that individual employee interest in AI capabilities is outpacing organisations’ planned technology strategies.

The prevalence of unapproved AI usage is raising alarm amongst IT leaders whose organisations regularly use AI tools and applications. As these unapproved tools have not been subject to due diligence, many are concerned about the impact of such practices, with 39% highlighting worries over the quality and integrity of data produced. Additionally, more than a third (36%) of IT leaders expressed fears that such tools could disrupt established workflows by reducing operational efficiency, while 40% pointed to the lack of formal processes as a critical issue hindering consistent and reliable AI use.

Despite these challenges, AI adoption remains a top priority for Irish organisations, with 89% planning to invest in AI tools and applications over the next year. However, as businesses look to harness AI’s potential, the intersection of AI and cybersecurity is becoming increasingly significant. While nearly a quarter (23%) of IT decision-makers believe the internal use of unapproved AI tools poses security risks, a broader threat remains. Some 62% believe that AI will increase the volume of cybersecurity attacks over the next year, while 67% believe that it will heighten the severity of these attacks.

Kevin Hall, Senior Systems Engineer, Datapac: “AI represents one of the most exciting technological advancements in decades—arguably since the widespread adoption of the internet. It’s no surprise that forward-thinking innovators are experimenting with AI to improve efficiency and quality in their work. However, in the rush to capitalise on AI’s potential, organisations must not overlook best-practice due diligence. We strongly encourage businesses to adopt AI-powered tools from trusted, reputable providers—such as Microsoft Co-Pilot—that seamlessly integrate into existing technology ecosystems.

“Even with reputable providers, it’s vitally important that organisations are prepared for AI integration to help mitigate potential cybersecurity and compliance risks. If an organisation lacks the capacity to thoroughly assess their own performance, partnering with an expert IT provider can offer strategic support and guidance. As AI adoption accelerates, our survey underscores the importance of balancing innovation with robust governance. By addressing the risks associated with unapproved AI usage, Irish organisations can unlock the full potential of AI while safeguarding data integrity, operational efficiency, and cybersecurity.”

Cybersecurity’s First Line of Defence: The Role of People and AI in Safeguarding & Strengthening Ireland’s Cyber Leadership

Artificial intelligence (AI) is no longer a distant concept—it’s here, reshaping Ireland’s business landscape at an unprecedented pace.

From healthcare to finance, transportation to manufacturing, Generative AI (GenAI) is solving complex challenges and informing better decision-making. The shift towards accelerated computing is also revolutionising productivity levels, much like the industrial revolution, with potential gains of 20-40%.

Through the growing use of AI in computers and other devices, AI is also modernising the workplace, enabling employees to focus on higher-value tasks.

According to the Dell Technologies Generative AI Pulse Survey, 76% of IT leaders believe that GenAI will have a significant, if not transformative, impact on their organisations.

But, as GenAI continues to evolve and develop, so does its impact – for both cybersecurity and cybercrime.

GenAI has emerged as a double-edged sword in the cybersecurity landscape. It holds immense promise as a powerful tool to enhance data protection and threat detection, yet it also opens new avenues for cybercriminals.

Evolving cyber threats 

Over recent months, we have seen several high-profile cyber incidents both here in Ireland and globally that reinforce the need for organisations in both the public and private sectors to enhance their cyber resilience in our AI era.

SMEs are particularly vulnerable to attack. According to the Garda National Cyber Crime Bureau, the number of ransomware attacks targeted at SMEs continued to grow last year.

Infected emails and email links, fraudulent websites, and fake invoice payment requests from suppliers are some of the ways in which SMEs are being targeted. With the growing volume of data which need to be kept secured, many SMEs feel overwhelmed.

The Cyber Security Review Grant unveiled by Enterprise Ireland and the National Cyber Security Centre (NCSC) last month is a positive first step in enhancing the cyber resilience of the Irish business community.

AI strengthening cyber resilience

At Dell Technologies Ireland, we’re seeing businesses increasingly turn to advanced technology to double down on their resilience. The days of relying solely on traditional firewalls and antivirus software are over.

GenAI is increasingly being used to detect threats faster, predict potential cyber-attacks and automate security processes. Our latest Innovation Catalysts Study revealed that 3 in 4 organisations in Ireland now use automated tools to detect and respond to cyber threats.[1]

This powerful technology is also helping organisations to adopt a Zero Trust model. Instead of assuming that anyone working inside your network is trustworthy, this model ensures that access to data and systems is continually verified and detecting unusual behaviour.

When AI identifies suspicious activity, it can initiate recovery protocols automatically, such as securing critical data in a Cyber Recovery Vault—a highly secure and isolated repository for critical information.

This level of automation significantly reduces downtime, allowing businesses to recover more quickly from cyberattacks and resume normal operations with minimal disruption.

Employees as the first line of defence

Cybersecurity isn’t just about technology; it’s fundamentally about the people who use and safeguard it.

While AI and advances system provide defence against cyber threats, they are only as effective as the individuals who implement, manage, and interact with them.

Human error remains one of the leading causes of data breaches, making it essential to empower employees to be the first line of defence.

This is where robust cybersecurity training comes into play. It can help change user behaviour by fostering a culture of vigilance and responsibility. By educating employees on best practices and the threats they are likely to face during their working day, organisations can significantly reduce the likelihood of breaches.

AI can also play a helping hand. The technology can be used to tailor and personalise cybersecurity training programmes depending on an employee’s role, access level, and previous interactions. This ensures that high-risk users receive the training that they need, when they need it.

Protecting & enhancing Ireland’s AI leadership

As we mark the end of Cybersecurity Awareness Month, it is vital that leaders in every organisation understand the cyber threats they face and place a greater emphasis on building cyber resilience in the AI era.

Cyber Ireland estimates that 10,000 additional jobs could be created within the cybersecurity sector by the end of the decade, offering a significant opportunity for Ireland to take the lead in this critical area.

By enhancing their cyber resilience, Irish firms can not only safeguard their operations but also position the country as a global leader in cybersecurity, particularly as AI becomes more integrated across industries.

The Government’s National AI Strategy points out that a strong approach to security is key to maximising trust in AI and a key ingredient to strengthening Ireland’s position as a global leader in AI-driven innovation. Furthermore, as businesses face new obligations under the EU’s Network and Information Security Directive, the need to prioritise cyber defences has never been more urgent. At Dell Technologies Ireland, our team of experts are building the next generation cybersecurity solutions and essential infrastructure for organisations to protect their most important information assets.

But, as cyber threats become more sophisticated and costly, employees must be empowered to become the front line of their cyber defence.

By continually fostering a culture of cyber resilience that leverages the power of AI and other emerging technologies while equipping people with the necessary cybersecurity skills, businesses—small, medium, and large—can stay ahead of evolving cyber threats.

Over a third of Irish employees admit to faking activity at work – Workhuman Survey

Workhuman the Irish tech unicorn revolutionizing the way employees celebrate, connect with, and appreciate each other in the workplace, today announces new findings from its Human Workplace Index, which found that 36% of Irish employees admit faking activity at work, with 37% of these individuals citing the pursuit of a better work-life balance as a key motivation for this behaviour. Burnout (27%) and unrealistic expectations (25%) were also factors cited as reasons. The survey further details how employees spend their time when pretending to be busy, with 42% scrolling through social media and 41% handling personal errands during work hours.

The Human Workplace Index surveyed 1,000 full-time employees in Ireland and was commissioned by Workhuman and conducted by Pollfish to gain insights into employee engagement and productivity.

The survey also uncovers a correlation between employee engagement and the likelihood of faking activity at work. According to the findings, employees who are less engaged are more prone to pretend they are working. Specifically, 54% of respondents admitted that when they aren’t feeling engaged, they do the bare minimum to get through the day, while 17% confessed to faking activity during these periods of low engagement.

Additionally, the data shows that 29% of employees reported they are required to use time-tracking software on their work devices, and 72% of managers believe it is important to know the exact hours their direct reports work. This emphasis on monitoring could unintentionally lead to more faking activity, as employees may feel pressured to appear busy. On the other hand, supportive management practices can have a positive impact. Nearly half of the employees (46%) believe that their manager’s involvement helps them perform their jobs better, while 32% say that their manager helps remove roadblocks, which can potentially increase employees’ productivity.

Niamh Graham, Senior Vice President of Global Human Experience, Workhuman, said: “The reality is that most Irish employees aren’t faking activity, but many feel compelled to do so. Our research findings highlight deeper issues around workplace expectations, and the illusion of being ‘always on’, with many employees feeling they need to fake activity to appear busy, rather than being genuinely productive. To address this, companies should focus on building a high-trust culture where employees are recognized for their results. High-trust, collaborative working environments, combined with meaningful recognition, can drive greater engagement, higher productivity, and a stronger sense of belonging and purpose. This approach not only reduces the need to fake activity but fosters a more motivated and productive workforce overall.”

MEF’s 10th Annual Consumer Trust Survey highlights the rise of the ‘savvy consumer’

The Mobile Ecosystem Forum (MEF) has released its 10th Annual Consumer Trust Survey, which takes the global pulse of the mobile ecosystem – from the point of view of the consumer.

This landmark study, with data from 15 different markets, combined with the analysis of results from the past decade, delves into the evolving perceptions and expectations of consumers, enterprises, and other stakeholders from across the globe. It sheds light on the challenges and triumphs encountered in building and maintaining trust through increasing awareness of how personal data is used, ensuring appropriate control over that personal data, and providing confidence in security safeguards.

This year’s Survey shows that while globally trust continues to decline and concerns about data collection increase, consumers are becoming more aware of how their data is collected and used, with a growing number of users now being classed as ‘savvy consumers’.

The key trends from the Survey over the last ten years are:

 

1) The rise of the “Savvy Consumer”: The reports highlight the emergence of the “savvy consumer,” who is more cautious about data sharing and demands greater control and transparency. This segment is increasingly seeking tools and services that empower them to manage their data.

 

2) Declining Trust: There’s a consistent decline in consumer trust regarding how companies handle their data. This is evident in the decrease in users who are “always happy” to share personal information and the increase in those who feel they have “no choice” but to share data to access services.

 

3) Increased awareness of data collection and use: Consumers are becoming more aware of how their data is collected and used. This is reflected in the growing importance they place on transparency and the desire to know how their data is being utilized.

 

4) Growing concerns about data security: Security remains a top concern, with identity theft and data breaches being major worries. This is driving the increased adoption of protective measures like password managers and antivirus software.

 

5) Importance of user experience and transparency: A poor user experience and lack of transparency are major factors that erode trust. Companies need to prioritize clear, concise privacy policies and user-friendly interfaces to build trust with consumers.

 

6) Impact of regulations: Regulations like GDPR and CCPA have increased awareness of data privacy rights and influenced consumer expectations. However, there’s still a gap between the perceived importance of these rights and their actual implementation.

 

7) Growing adoption of mobile payments: The use of mobile payments is increasing, but concerns about security and overspending remain. Companies need to address these concerns to build trust in mobile payment solutions.

 

8) Rise of Data Abstinence: In recent years, users are increasingly practicing “data abstinence,” choosing to limit data sharing as a way to assert control. This trend poses challenges for businesses that rely on data for personalization and targeted advertising.

MEF’s 10th Annual Consumer Trust Survey is an essential tool for the mobile ecosystem, letting stakeholders know where the issues lie and ensuring they have the data needed to make decisions about the future development of products and services. By understanding consumer concerns, companies operating in the mobile ecosystem can work towards allaying those fears.

“MEF’s 10th Annual Consumer Trust Survey serves as a critical compass, providing invaluable insights into the current state of trust in the mobile industry. With a decade of experience in examining trust dynamics, this study offers a unique longitudinal perspective, tracking trends and identifying emerging concerns. It explores a wide range of factors, including fraud prevention, data privacy, security practices, and the impact of new technologies like 5G and artificial intelligence.” said Gavin Patterson, Director of Data, MEF

Key Insights include:

  • Trust is a critical factor: It influences consumer behaviour, including app downloads, purchases, and engagement with services.

 

  • Transparency and control are paramount: Consumers demand clear information about how their data is used and want the ability to manage their data.

 

  • Security concerns remain high: Companies need to prioritize data security and proactively address consumer concerns to build trust.

 

  • The need for user-friendly solutions: Data protection tools and services need to be easy to use and understand to encourage adoption.

 

  • The importance of education: Educating consumers about data privacy and security is crucial to empower them to make informed decisions and protect themselves.

 

  • Stagnant Trust: The Global Trust Index, a measure of user confidence in personal data sharing, remains weak at 55% and has not improved since last year.

 

  • Awareness of Data use is a mixed blessing: While awareness of how personal data is used is high, it may be driven by negative news and data misuse. Increased awareness alone does not improve trust; greater confidence in control and safeguards is also necessary.

 

  • Positive perceptions have plateaued: Perceptions of ease, convenience, online confidence, and privacy have stagnated or declined, reversing a long-term upward trend.

 

  • Incremental decline in data harm is not enough: Although there has been a slight decrease in reported data harms, it hasn’t translated to improved trust. Most data harms remain more common than in previous years.

 

  • Fewer users are noticing improvements: The proportion of users who perceive improvements in data education, controls, and security has plateaued or declined.

 

  • Protective actions are no longer increasing: For the first time, there is no continued upward trend in protective actions taken by users. There’s also a lack of certainty that these actions significantly improve safety.

MEF’s 10th Annual Consumer Trust Survey was carried out in January and February 2024. On behalf of MEF, On Device Research surveyed 9,750 smartphone users, 650 in each of 15 markets.

“Ten years is a significant milestone, one that provides an opportunity to reflect on progress and future trajectories. With the annual Consumer Trust Survey, MEF has championed the importance of consumer perception of safety and privacy in mobile for a decade,” said Dario Betti, CEO of MEF.

For more information: https://mobileecosystemforum.com/10th-annual-trust-study/

PMI survey says 46% of project managers feel AI will help to reduce stress

A survey from the Ireland Chapter of Project Management Institute (PMI) has found that nearly half (46%) of project managers feel that Artificial Intelligence (AI) will help to reduce stress in the workplace, but 72% feel that advancements in technology have led to unrealistic expectations from stakeholders who do not understand its capabilities.

Conducted by PMI, the survey of 122 project managers was carried out ahead of its annual conference, the Work Smart Summit 2024, in association with EY. The event, which takes place in Dublin’s Convention Centre on April 23rd, will discuss the future of project management and will feature David Rowan, founding UK Editor-In-Chief of WIRED magazine and author of the bestselling book Non-Bullshit Innovation as keynote speaker.

Feedback was positive on the potential impact of AI on project management as a whole. In fact, some 70% say it would have a permanent transformative effect on the industry, and 74% say it is driving innovation.

Three-quarters (75%) agree that AI has already had a significant positive impact on the profession, with 41% saying that the technology is improving project completion rates and delivery times.

In terms of project completion, the survey found that the average cost of failed projects in the last 12 months was €710,896.23*, and only 11% of project managers’ ten most recent projects met all project success metrics of schedule, cost, project benefits and resources.

On the topic of resources, constraints in this area were cited as the top cause of stress by 52% of project managers. The other leading causes of stress were competing priorities (50%), and frequent scope changes (45%).

However, the survey did find that nearly two thirds (63%) of respondents feel their workplace has open channels of communication to discuss mental health issues such as stress, burnout, and fatigue.

Commenting on the findings, Peter Glynne, Ireland Chapter of PMI President, said: “Project management can of course be a high-pressure profession, but it is clear that – as well as adequate training and effective ways of working – emerging technologies like AI can streamline projects and boost success.

“In turn, this enables project managers to work smarter – the theme of our annual conference in April – as opposed to longer or harder. AI can also play a pivotal role in driving automation and innovation, something which we will be discussing at the Convention Centre next month and which makes the future of the industry very exciting.”

Jennifer Ryan, EY Ireland Business Transformation Partner added: ““EY Ireland is proud to once again sponsor the PMI’s national conference, the Work Smart Summit. Project managers are at the heart of transformational change, and harnessing systems, technologies and strategies that simplify complex endeavours and enable people and organisations work smarter, comes naturally to them.

“Artificial Intelligence, in particular Generative AI, offers project managers the opportunity to further embed innovation and efficiency into their projects, automating routine or process driven tasks and enabling people to focus on higher value tasks and most crucially, enabling more human interactions.”

Urgent Need for Improved Data Utilisation Across Businesses, from SMEs to Corporations, TEKenable Survey Reveals

A TEKenable survey, in collaboration with Microsoft unveiled the urgent need for improved data utilisation across businesses, from SMEs to Corporations.

This survey examined the understanding, challenges, and implementation of Customer 360 across diverse organisational landscapes. The survey involved 201 SMEs and Corporations, with varying proportions across management levels and industries.

The survey results illuminate nuanced perspectives between SMEs and Corporations and disparities across management levels regarding the benefits of addressing challenges associated with the Customer 360 view.  SMEs, constituting 60%, exhibit a stronger belief in the significant contribution of Customer 360 to enhanced customer engagement while Corporations, at 40% are more sceptical, potentially influenced by the complexity and costs associated with implementing and maintaining Customer 360.

Management levels further reveal varying degrees of recognition, with the C-Suite and senior management holding a more positive view than first-line managers, emphasising the need for comprehensive education and engagement strategies.

The types of data used in business also vary, the survey found.  SMEs predominantly used transactional data (27%,) less frequently employing behavioural (10%) and demographic (8%) data.  Contrastingly, corporations showed a more varied usage pattern, with behavioural data (20%) and demographic data (10%) being more prevalent.

SMEs found Customer 360 most beneficial for financial decisions (77.8%) and service excellence (64.3%).  Customer 360 helped SMEs make more informed financial decisions by providing insights into customer behaviour, preferences, and spending patterns which helped to optimise pricing, marketing campaigns, and product offerings to improve profitability.  It also provided better customer service by providing a single view of each customer’s interactions with the company.

Corporations attributed significant impact to data-driven insights (63.2%) and campaign effectiveness (100%).  Customer 360 provided corporations with a wealth of data that was used to gain deep insights into customer behaviour, preferences and trends.  It also helped them measure and optimise the effectiveness of marketing campaigns by providing data on customer engagement, conversion rates, and ROI.

Concern about the need to protect data is also acting as a barrier to the adoption of Customer 360 with 58.3% of SMEs seeing data security and compliance as the main challenge while 41.7% of corporations identify it as the primary obstacle.

The lack of a single customer view is a significant challenge for SMEs, with nearly half (43%) of respondents identifying it as their primary challenge. Corporations als find achieving a single customer view a significant challenge, with over half (57%) of respondents identifying it as a major issue.

“From SMEs to Corporations, the imperative for improved data utilisation isn’t just a matter of growth – it’s about staying relevant in an increasingly customer-centric landscape,” explains Nick Connors, Group CEO at TEKenable.  “While our research shows that investment in Customer 360 is rising, education and engagement strategies need attention.”

A further issue identified by the survey was a widespread inability to make data-driven decisions.  66.7% of SMEs say this was their main challenge, while 33.3% of corporations share this view.