How well an organization manages and uses its data will determine its success in the digital era. In our new study, “The 2018 Data Value Report,” we found that enterprises expect to increase annual revenue by an average of $5.2 million by using data more effectively in their organizations. However, businesses have only scratched the surface in realizing data’s potential: On average, organizations are using only half (51%) of the data they collect or generate, and data drives less than half (48%) of decisions.
Together with independent research firm Vanson Bourne, we surveyed 500 IT decision makers in the US and UK to understand their data priorities, investment plans, and what’s holding them back from getting maximum value from their data initiatives.
- Three quarters (74%) of respondents agree that their organization has more data than ever but is struggling to use it to help generate useful business insights
- Only 29% of respondents have complete trust in their organizations’ data when it comes to making business-critical decisions
- Legacy technology is holding back four in five (80%) organizations from taking advantage of data-driven opportunities
- AI and machine learning hold great promise, with 83% having invested or planning to invest in these technologies to accelerate their data initiatives
- If they get their data utilization right, organizations expect to see an impressive 547% return on their data investment
Get the report now.