Data-driven companies significantly outperform their peers
There are currently 40 trillion gigabytes of data out there - that's more data than grains of sand on earth. And more is coming. Is it possible to gain actionable and profitable intelligence from this avalanche of information? To become a data-driven company, rather than a data-damaged one? We wanted to find out.
In the latest Capgemini Research Institute - The Data-Driven Enterprise: Why Organizations Must Strengthen Their Data Domain - we surveyed 500 technology executives and 500 business executives, conducted in-depth interviews with more than 15 executives, and examined the relationship between data mastery and organizations' financial performance. We found that organizations still have some ground to cover when it comes to data-driven decision making and action, with only 39% turning data-driven insights into a sustainable competitive advantage. This may be because only 20% of business executives trust their data, often because it is of poor quality. The small minority who do, however, enjoy a significant performance advantage over the rest, seeing up to 22% higher profitability and 70% higher revenue per employee. These are the " Data Masters ".
Data masters know how to use data to protect business results. They are able to turn data and insights into action because they have the necessary infrastructure, governance and operations. What's more, they know how to harness external data and enhance their insights, to their considerable advantage.
It's not enough just to have the data. You have to learn to trust it and also know how to use it. For more information on how your organization can become a data master, download the report .
