HOW TO WIN IN TODAY'S DATA ECONOMY
Why data collaboration, leadership and cutting-edge business analytics are key
GLOBAL RESEARCH RESULTS
LEARN HOW TO BECOME A DATA-FORWARD BUSINESS
WELCOME TO THE DATA ECONOMY, WHERE INSIGHTS ARE THE NEW COMMODITY OF BUSINESS
What will help you transform your business and leapfrog the competition all at once? A new product, process, or even an acquisition? Possibly. But at the heart of today's innovation and transformation is data. Those companies that succeed with data are winning in the one economy that delivers more impact today than any other--the data economy. But companies that can do this are outliers, our research shows.
We surveyed 1,000 senior business and technology executives across five industries: financial services; healthcare and life sciences; retail and consumer packaged goods (CPG); advertising, media and entertainment; and technology.
We found that most organizations are still in the early stages of benefiting from the data economy. They are inspired with big ambitions, but struggle to develop in some crucial areas. It's time for them, and possibly you, to level up.
What defines the firms that are gaining strategic business benefits from data, and what has gone wrong at the ones that are getting left behind?
What is the data economy?
What exactly is the data economy, and why should it matter to you? And how can you lay the foundations for success in this world of near-boundless information?
The data economy represents global supply and demand for live data, data applications, and data services.
Succeeding in the data economy, or becoming a "Data Economy Leader," requires deploying technology, executing organization-wide strategies, and using data in ways that were unthinkable to organizations just a few years ago.
The first step to success is establishing a strong data culture—along with the right people to back it up. That starts at the top with a C-level mandate to become data-forward, supported by an appreciation of data-driven insights at all levels of the organization.
But what does that look like in practice? Find out how you can empower your people to make the most of the data economy.
Data can only get you so far. You need the right processes to share, govern, secure, and gain insights from it. Our research finds that organizations leading in the data economy outperform their peers in three specific process areas: alignment, governance, and collaboration.
Together, they form the foundations of a strong data strategy. Without them, organizations will struggle to make the most of their data. What can we learn from the ones that are getting it right?
Many organizations want to take part in the new digital landscape but lack the infrastructure to match their ambitions. To succeed, they need platforms and solutions that are scalable, open and collaborative—but less than a third of the firms we surveyed met these standards.
Is your organization setting itself up to fail in the data economy? Learn from the leaders and make sure you have the tools that will support your data strategy.