The significance of data in driving business performance
We live in the era of data economy. European Single Digital Market strategy places great emphasis on building an European data economy to unlock the re-use of data and facilitate its free flow across European borders; thereby driving economic growth, competitiveness, innovation, job-creation, and societal progress in general. It is imperative that High-Performing Digital Organisations (HPDO) that are operating in the data economy, harness abundance and ecosystems to drive business performance. Organisations that are able to harness the full potential of data have the best chance to thrive in the data economy.
ICT Media in association with prof. dr. Erik Beulen of Tilburg University/TIAS, launched a research study that aims to affirm the hypothesis – ‘data and analytics maturity and business effectiveness are strongly correlated’. This research study is a continuation of ICT Media’s 2018 research publication about High Performing Digital Organizations (HPDO): Challenges and Journeys, authored by Erik Beulen. This new research study focuses on assessment of data and analytics maturity and its correlation with business performance across four behaviours of HPDO organisations – 1. Mass customization; 2. Create exponential value; 3. Leverage ecosystems; and 4. Embrace risk outcomes.
Tata Consultancy Services limited (TCS) is committed to be the knowledge partner in this research study and offers an additional in-depth assessment of data maturity of your organisation across the dimensions of people, process, technology, and data – using its proprietary Data Maturity Assessment tool called DATOM™ App. If you opt for the in-depth DATOM™ assessment, you will receive exclusive results that will shed light on the data maturity of your organisation, which you could use to align your organisation’s data-analytics and technology initiatives.
The anonymized results of the survey and the results of the workshop discussions are included in the white paper ‘HPDO – Demonstrate Data-Driven Business Behaviour,’ which you can download below.