Key Takeaways:
- ADAPT Edge Event data comprising 657 organisational leaders primarily in enterprise-sized organisations showed building a data-driven organisation was a key priority for 81% of respondents. A data-driven strategy was the second-highest focus point from a technology priority perspective.
- Multiple stakeholders, from multiple personas within an organisation will contribute to the company’s data strategy.
- Data analytics, management and integration account for approximately 14% of spending in a CIOs IT budget.
- Data is receiving significant investment underpinning decision making and innovation in Australian organisations.
- Technology and telecommunication companies are less likely to be focused on creating a data-driven strategy. Evidence supports they are more concerned about acquiring new customers in an increasingly competitive market. However, they might not see the link between reforming their data strategy and return on investment.
- A robust data strategy is essential for digital transformation initiatives.
Creating a Data-Driven Organisation