Data-Driven Enterprise (or Just Talking Like One)?
Who’s faking it? Data-driven decision-making (and ensuring related investment is delivering on its promises) has been elevated in importance. Every enterprise is replacing opinion with data-driven decision-making, correct?
A brand new research report from EMA (Enterprise Management Associates) titled, “A Data-Driven Enterprise” looks behind the curtain to separate facts and reality from fiction and aspiration. Here are some of the findings from the latest research on enterprises.
- Perception of “data-driven” maturity and culture is high; however, perception of an organization’s strategy to be data-driven is not as strong.
From the above chart, “Executive Engagement” appears to show relatively high maturity as to adopting data-driven decision-making, with 45% saying they “Always” do it and another 33% saying “Very Often.” Those are the numbers of executives essentially rating themselves and their own company. The same chart however shows lower adoption for “Culture Around Data Analytics” and even lower numbers for “Report Automation” and “Cadence of Reporting,” which are key elements of being a mature, data-driven enterprise. Always having “Data Accessibility” coming in at only 33% for all levels of the organization points to some gaps (which the research report digs into in detail).
Here is an interesting conclusion from the report:
- Resources and leadership are key factors preventing an organization’s maturity from being data-driven
The EMA research report includes detail about significant spending on data analytics tools and staffing, yet resources and leadership are seen as preventing them reaching their goals. There seem to be some disconnects between perception and reality, and some disappointing results thus far for getting a good return on investments in data analytics and business intelligence.
Does any of this ring familiar to your organization? If it does, at least you’re not alone.
On the bright side, there does seem to be awareness of the gaps and a genuine desire to fix gaps in data needs, with 90% stating they “Agree” or “Strongly Agree” that:
- Our Management is making it a priority to fix gaps in data needs (see the below chart)
The report concludes that management across all industries and geographies are now making it a priority to fix gaps in data needs, and most aim to do it within six months.
There is a near consensus on some points related to becoming a data-driven enterprise, including that while “improved efficiency” is the highest benefit of being data-driven, the top reason for being data-driven is actually… “security.”
These are just a few of the research insights EMA has uncovered for enterprises, with charts and conclusions for different industries and for different global geographies.
How well does your organization stack up to your peers? What can you learn from them to speed your organization’s journey to becoming a mature, data-driven enterprise (and getting a better ROI on those significant data analytics investments?
Download EMA’s new “A Data-Driven Enterprise” research report today and find out.