Read the latest data strategy surveys: Data is king
#1 Yes, you need Data Quality + Data Governance
Survey: The Wakefield Research data quality survey, commissioned by Monte Carlo, polled 200 data professionals in March 2023. Bad data quality is taking more time to resolve. Monte Carlo refers to this as “data downtime”. Their report found a 166% increase in time to resolve a data quality issue in 2023, compared to the same time the year before.
Takeaway: Data Quality + Data Governance processes are integral to ensuring that the data your people use is accurate, reliable + easy to access. It means that your people can spend time on more value-adding activities + less manual tasks.
#2 Businesses are beating the competition through data
Survey: In 2021, Statistica found the use of big data analytics in market research had increased to 46%. In 2022, Statistica found that spending on digital transformation (DX) is projected to reach 1.6 trillion U.S. dollars. By 2026, global digital transformation spending is forecast to reach 3.4 trillion U.S. dollars.
Takeaway: Businesses can better understand their target audience, spot new trends, and establish effective strategies if they invest in their data strategy (ensuring data quality + easy access to the right data). Digital Transformation is a priority for business and those who don’t invest now, will be left behind.
#3 It pays to hire a data strategy expert to kick your digital transformation goals
Survey: According to Wavestone’s Data and Analytics Leadership Annual Executive Survey 2023, only 23.9% of companies see themselves as data-driven and 20.6% say that they’ve developed a data culture: “becoming data-driven is a long and difficult journey that organisations increasingly recognise playing out over years or decades.”
Takeaway: Businesses that partner with external data consultants to build their data strategy roadmap and build a solid data culture, fast track their success.
Notitia services & expertise
Want to know more about how Notitia can help with your data strategy? Book in a 1:1 chat with our team.
We use our combined expertise to provide a solution with tangible outcomes for your business and people.
Data Strategy:
- Strategy Workshop Sessions
- Technical Roadmaps to achieve business goals
- Data Literacy skills
- Data Quality
- Data Governance
- Cyber Security
- Data Dictionary
- Training & process implementation in your business
Analytics:
- Problem Solving
- Training
- Dashboards
- BI Analytics
- Solution Architecture & Implementation
- Data Lake
Web & Software Development:
- Simple, efficient & understandable solutions across front + back end application development
- Modern Cloud Technologies
Design (meet our team here):
- Beautiful dashboard design (we work through this with you in an iterative process)
- UI/UX Design + Prototyping
- Graphic Design
- Website and Application Design + Development
- Brand Identity
