(Newswire.net — October 23, 2020) — Concludes a Research by Tilburg University, Tata Consultancy Services (TCS) and ICT Media, based on the correlation between data analytics maturity and business effectiveness and performance.
84% of the companies should improve their data analytics
Tata Consultancy Services (TCS), a leading global organization for IT services, consulting and business solutions, shows a study of the correlation between data analytics maturity and the effectiveness and performance of businesses. The study, commissioned by TCS in collaboration with Prof. Erik Beulen (Tilburg University / TIAS School for business and society) and ICT Media, shows that about 8 out of 10 (84%) Dutch companies should improve their data analytics maturity in order to improve the effectiveness of the company and prevent disruption.
Most important insights
The research showed that a focus on data and analytics improves the effectiveness and performance of companies. The three most important insights were: 1) Start with revenue generation in mind; 2) Make sure you have the basics right and; 3) Make a good inventory.
Only 3% of the organizations are self-optimized
The research shows that in 16% of the Dutch organizations surveyed the data analytics capabilities are ‘in silos’, as independent tactical capabilities within business units. Almost half of the surveyed companies (47%) have ‘simple’ data analytics capabilities. Approximately one third (29%) are classified as ‘scaled’, which means that there is operational excellence for real-time decisions at the enterprise level. Only 3 organizations (5%) have a ‘synergetic’ data maturity, which means that they have established a digital ecosystem that enables complex processing for the entire enterprise and branch offices. No more than 2 of the surveyed organizations (3%) are ‘self-optimized’, the highest level, which means that an intelligent and automated balance between human- and machine-oriented decision making is possible.
Having issues with your own data analytics?
There are many consultancy organizations out there to help you! Not only data management and business analytics can be interesting for growth opportunities, but also have a look at how agile architecture can be helpful for your organization. And architecture governance might be interesting for you! Leading organizations have their data management in control and will affect their overall business performance!