Data-driven firms showcase enhanced competitive advantage

data-driven organization

A new survey from 451 Research reveals that more than 75 percent of enterprises view data as becoming more important to their organizations during the next 12 months.

Majority of these enterprises are seizing the opportunity and investing in data processing and analytics technologies and 84 percent of respondents indicated that at least some of their organizations’ decisions are driven by data.

The survey also reveals the stark differences that exist between the most data-driven companies – the Data Drivers – and the least data-driven – the Data Drifters.

According to the survey, 63 percent of the most data-driven companies point to enhanced competitive advantage as a significant benefit versus 34 percent of the least data-driven respondents. Those who own the data and can rapidly convert it into business insight will win.

“All companies are looking to invest in data processing and analytics, with a view to becoming more data-driven,” said Matt Aslett, research vice president at 451 Research. “This is likely to have a significant impact in terms of their ability to survive and thrive in competitive environments, with Data Drivers appearing to be at an advantage.”

The survey suggests that providers of data processing and analytics products and services need to consider the differences between Data Drivers and Data Drifters as they develop strategies and tactics optimized to engage with companies at different stages of digital transformation.

editor@infotechlead.com

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