Data Intelligence Maturity Drives 3X Better Business Outcomes
Collibra, the Data Intelligence company, today announced a new IDC White Paper, sponsored by Collibra, Data Intelligence Maturity to Drive 3x Better Business Outcomes,* that finds data intelligence is crucial to making informed business decisions and driving better business outcomes.
According to the study, 67% of respondents said having access to intelligence about the data being used to make decisions is crucial to success. However, over 65% of organizations are challenged with identifying and controlling data sources in their organization. Notably only 5% of respondents claim not to have organizational data governance challenges.
Gathering data intelligence is important, but how organizations activate that intelligence is what sets them apart. Organizations with higher levels of maturity across data intelligence, data cataloging, data governance, data quality, and data culture are likely to realize higher business benefits and performance versus peers.
The most mature organizations achieve three times the business benefits of their peers, with the most significant improvements across their ability to innovate, adhere to regulatory compliance requirements, and reduce time to market for new products and services. These organizations also see an increase in trust around data thanks to improvements in data quality.
Data culture is critically important for mature organizations, and those organizations that make data culture a priority are better able to drive data-driven decisions. The study found that 86% of respondents have a dedicated team responsible for data culture and data literacy. Additionally, the most mature organizations have a higher representation of groups outside of IT participating in data initiatives and are more likely to have a Chief Data Officer leading overall data strategy.
“The findings from IDC show that while organizations recognize the need for data intelligence, adoption and cultural barriers remain the biggest challenge to maximizing value and sustained business success,” said Stijn “Stan” Christiaens, Co-founder and Chief Data Citizen at Collibra. “When organizations have executive leadership prioritizing data culture and actively engaging a variety of stakeholders in data intelligence, digital transformation efforts succeed. Making an investment in data culture is the most significant move an organization can make to ensure efficiency, productivity, and a strong competitive advantage.”
To help organizations understand their data intelligence maturity and make better decisions about how to invest in successful data initiatives, Collibra commissioned IDC to develop the Data Intelligence Assessment Tool. The assessment enables organizations to get a window into their data intelligence maturity relative to their peers and provides a customized report with recommendations on how to optimize their data intelligence journey.
“In order for data to generate value, it must be considered in context. The most mature organizations understand that making investments in data catalog, lineage, governance, quality, and overall data intelligence structures will deliver higher quality and improved business outcomes,” said Stewart Bond, Vice President, Data Integration and Data Intelligence Software Research at IDC. “The greatest challenge and opportunity for every organization today is improving their data intelligence maturity.”
The Data Intelligence Index and Assessment Tool are the result of an IDC global internet survey commissioned by Collibra. They provide insights on data intelligence organizational design, data intelligence maturity and related implications, and future outlook. Survey respondents and the data gathered for the Index and Assessment Tool came from over 1000 respondents across the globe involved in management and investment decisions.
*doc #US49446822, August 2022
About Collibra
Collibra helps our customers do more with trusted data. Our Data Intelligence Platform brings flexible governance, continuous quality and built-in privacy to the world’s leading brands. To learn more, visit collibra.com and follow us on LinkedIn, X.com, Facebook and Instagram.