S&P Global Market Intelligence - Data-Driven Decision-Making: Trends, Challenges, and Solutions
Data-driven strategic decisions are the norm today for many organizations, yet there is still ample room for additional progress to be made. Based on the S&P Global Market Intelligence Voice of the Enterprise: Data & Analytics, Data-Driven Practices 2022 survey, less than one-quarter (21%) of respondents report that their organization makes “nearly all” strategic decisions based on data. A full third (33%) of respondents say their organization only makes “some” or “few” strategic decisions based on data: indicating a clear maturity curve, with many lagging behind.
Pressure, meanwhile, is increasing to leverage data effectively. Organizations overwhelmingly indicate that data is becoming more important in their decision-making over time. Based on the same survey, nearly 79% of participants say that data will be more important to their organization’s decision-making over the next 12 months. Yet organizational motivation for becoming more data-driven isn’t as straightforward as one might believe. The business motivation for being data-driven has largely shifted toward long-term survival.
Read this report and learn more about how an organization should select technology that augments and enhances existing successful work processes.