We are releasing our Data Maturity Curve as the number of data-driven businesses dwindles.
The last two years have seen a decline in data-driven businesses, according to a new report by NewVantagePartners. Today, only 31% of businesses say they are data-driven. The challenge doesn’t lie with the availability of skills such as data science. Cultural challenges are stated as the main barrier, according to the senior executives surveyed. 95% of obstacles stem from factors such as agility and organisational alignment, all culture related.
CambridgeData, the business behind many global brands’ successful data culture initiatives have developed a tested Data Maturity Curve, helping organisations understand where their barriers lie to becoming more data-driven.
“The number of businesses that compete on data and analytics is higher than ever before,” says Jonathan Brech, Partner at CambridgeData and adds that “business’ ability to tap into the endless opportunities of big data and AI is severely restricted today by organisational culture. An obvious example is that of a marketing organisation which isn’t able to work as an agile, data-driven team, with a full view of the customer. In many organisations, this is the case today and this is why we’ve developed the Data Maturity Curve.
It helps senior leaders understand how advanced their business is in 7 key dimensions:
On 2 May, Colin Smith, Partner at CambridgeData will host an online discussion to showcase the Data Maturity Curve. See the full details here.