17 Statistics Showcasing the Role of Data in Digital Transformation

By Tricia Morris

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The new imperative for enterprise organizations is to deliver on new customer experiences and business models before their competitors – be the disruptor rather than the disrupted. But this requires being able to see transformational possibilities before they become obvious, and to act on information proactively and predictively.

For enterprise organizations seeking success and longevity, the role of data and analytics in business transformation has never been clearer. Where are most when it comes to using analytics to inform and inspire action? Where should organizations be focusing investments? Here are 17 statistics showcasing the current and future role of data:

  1. 85% of enterprise decision makers surveyed feel they have a timeframe of just two years to make significant inroads on their digital transformation before suffering financially and/or falling behind their competitors. – Progress Are Businesses Really Digitally Transforming or Living in Digital Denial Report
  2. 94% of enterprise decision makers say analytics are important (45%) or critical (49%) to their digital transformation efforts. – Progress Are Businesses Really Digitally Transforming or Living in Digital Denial Report
  3. Insights-driven businesses are growing at an average of more than 30% each year, and by 2021, are predicted to take $1.8 trillion annually from their less-informed peers. – Forrester Insights-Driven Businesses Set the Pace for Global Growth Report
  4. Data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result. – McKinsey Global Institute
  5. 58% of marketing executives are using data to find new customers, while 55% use analytics to grow the number of leads they generate. – Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study
  6. In 2018, two-thirds of firms will create customer insight centers of excellence. – Forrester Predictions 2018: AI Hard Fact – Treat It Like a Plug-And-Play Panacea and Fail
  7. In a survey of more than 300 executives across a variety of industries, 71% of respondents said that 50% or more of their business decisions now include analytics. – Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study
  8. 63% in the finance function said they are using data and analytics to find new opportunities to fund business growth. – Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study
  9. 60% of finance executives say they use data to help drive long-term strategic planning. – Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study
  10. Only 38% of executives strongly feel that their business leaders are currently taking full advantage of their analytics initiatives. – Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study
  11. 27% cite a skills gap as a major impediment to their data initiatives. – Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study
  12. By 2020, there will be 2.7 million job postings for data science and analytics roles. – BHEF and PwC America’s Data Science and Analytics Talent: The Case for Action Report
  13. By 2020, 59% of employers say data science and analytics skills will be Go to the full article.

    Source:: Business 2 Community

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