What’s Hampering Corporate Efforts to be Data-Driven?
MMW was briefed Thursday by the team at Teradata on its fascinating new global study. The big data analytics and marketing applications company finds what it calls an “apparent disconnect between how chief executive officers ( see the current status and benefits of data initiatives and how lower-level managers see them.”
Not surprisingly, the firm posits, this and other disparities “impede success” and imperil the competitive advantage companies hope to realize.
Key findings of the report show that:
- 47% of CEOs, or about half, believe that all employees have access to the data they need, while only 27% of other respondents agree.
- 43% of CEOs think relevant data are captured and made available in real time, as opposed to 29% of other respondents.
- CEOs are also more likely to think that employees extract relevant insights from data – 38% of them hold this belief, as compared to 24% among other the rest of respondents
- 53% of CEOs think data utilization has made decision-making less hierarchical and further empowered employees, as compared to only 36% of the employees themselves.
- 51% of CEOs believe data availability has improved employee engagement, satisfaction and retention, while only 35% of the rest agree.
“The survey is clear that organizations succeed when the data-driven vision and leadership are shared, and the benefits of data initiatives are consistently tracked, promoted, and most importantly, linked to corporate goals and business results,” said Chris Twogood, vice president of Products and Services Marketing at Teradata.