Business Intelligence
Drivers of Data Projects
Most data projects are driven from the top down: 63% of top performers said data initiatives are launched and driven by their corporate leadership, compared with 38% of bottom performers.
Dedicated Data and Analytics Groups Emerge
Companies with dedicated groups make for better prospects: 41% have a centralized data and analytics group that takes the lead for introducing and implementing data initiatives, compared with 28% of bottom performers.
Tools Matter
32% of performance leaders think that all employees in their organization have access to the data they need, while only 17% of subpar performers said the same; 20% of top performers said their employees have access to user-friendly ways to carry out data analyses, but just 5% of bottom performers indicated the same.
Data Access Make a Difference
Visualization of the data equals insights. The ability to access data and quantitative tools that convert numbers to insights is two to three times more common in data-centric companies.
Data Access Drives Business Agility
68% of top performers indicated that information and knowledge is shared more quickly and more freely in their companies, compared with just 36% of underperformers. 56% have seen better collaboration across business units, versus 29%, and 55% believe that speed of execution and quality have improved, compared to 26%.
Data Limitations
More than half, 57%, said they do a poor job of capturing and disseminating important business data, while two-thirds report that data is also unevenly distributed inside the organization.
CEOs Live on Another Data Planet
Just under half of CEOs, 47%, are much more likely to believe data and analytical tools are widely available, but only 27% of other respondents feel the same way.
CEOs’ Data Dreams
Just over half of CEOs, 53%, think data utilization has led to less hierachical decision-making, but only 36% of other respondents agreed.
Data Most Desired
The most valuable type of data, selected by 53%, is customer demographics and behavioral patterns, which only 28% indicated was widely available. External market data is also ranked relevant and useful by 45%, but only 36% see that as being readily available.
The Trouble With Training
Training needs more attention. More than half, 58%, say training is widely used, but only 48% agree it is highly effective.
Better Data Equals Better Management
57% of respondents indicated that greater access to data-driven insights gives them better control of internal risks and the capability to operate more efficiently; 45% said they can better respond to external market threats and opportunities.