New research from innovation foundation group Nesta reveals that businesses can expect to see increase of productivity of between 8 and 10 per cent from the employment of big data.

The research of 500 UK companies found that effective use of bid data, with proper collection, analysis and deployment, can see a 4.3 per cent increase in equity return.

The research revealed that businesses that allowed staff greater flexibility and autonomy in making decisions saw increased productivity from data than businesses that operated on a centralised decision making model.

Hasan Bakhshi, research director at Nesta, said: "Businesses must analyse their data and create an environment where workers are empowered to use it to generate positive returns. Our report makes a strong case that no business should ignore its data."

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