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.
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.
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.
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.
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%.
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.
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.
Just over half of CEOs, 53%, think data utilization has led to less hierachical decision-making, but only 36% of other respondents agreed.
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.
Training needs more attention. More than half, 58%, say training is widely used, but only 48% agree it is highly effective.
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.