Data is the lifeblood of your business.
But you can’t make data useful unless you have a culture where data informs your decision-making processes and drives innovation.
While we know organizations are collecting more data than ever, we also know most of this data isn’t used effectively or efficiently.
Get smart about data intelligence
To give data professionals more insight into the state of data intelligence, Collibra recently commissioned IDC to survey 1,200 professionals.
The result is the new 2022 Data Intelligence Index and it reveals a lot about the benefits of more mature data cultures, including:
- Mature data intelligence is strongly correlated with more successful business outcomes
- Companies with the highest data intelligence maturity are seeing 3X better outcomes
Why data intelligence maturity is so important
Data intelligence maturity can be defined as:
- The ability for your organization to leverage data to make informed business decisions
- The degree to which your organization has adopted and implemented the technologies, processes, and policies required to manage your data on demand and at scale
According to the 2022 Data Intelligence Index, nearly 7 out of 10 professionals believe data intelligence is crucial to making informed business decisions and driving better business outcomes.
The significance of data intelligence maturity to the bottom line is evident in its effects. In fact, the top three business outcomes seen by respondents from highly mature data cultures include:
- Industry innovation
- Adherence to regulatory compliance requirements
- Faster time-to-market for new products and services
Data intelligence adoption — not just implementation — is critical to success
The truth is the level of value achieved from data intelligence is directly proportional to the effort put into building data knowledge — and it’s often reflected in an organization’s data culture.
However, the IDC survey reveals that while there is wide implementation of data intelligence technology, there’s also a much lower level of adoption.
In fact, data intelligence capabilities — including data cataloging and data quality management technologies — are among the least implemented and adopted.
It’s no wonder 65% of organizations are challenged with identifying and controlling data sources.
Almost everyone is affected. In fact, only 5% of respondents claim they don’t have data governance challenges in their organizations.
Start your data intelligence journey
Data culture is critically important in a digital-first world — and almost everyone realizes this today. Nearly 9 out of 10 respondents to the IDC survey claim to have a dedicated team responsible for data culture, working to build data literacy, and integrate the use of data into everyday business activities.
But how data culture is structured and who the responsibility sits with is often still a little unclear.
Achieving data intelligence maturity is more than just a mindset, a culture, a process, or a team. A data intelligence platform like Collibra is often essential to creating an environment where data can be used effectively throughout your organization.
Most importantly, data intelligence maturity can begin with individuals like yourself — and then work up through your entire organization until it becomes part of every business decision.
See how mature your organization is
With companies working to achieve a higher level of maturity, it’s clear there’s still a long way to go before organizations are able to utilize data more effectively.
But with data intelligence platforms like the Collibra Data Intelligence Cloud, you can start making better decisions and driving more value from your data today.
Download the 2022 Data Intelligence Index to get more in-depth insights on what differentiates leaders from laggards on the data intelligence index, including:
- Key characteristics of mature organizations
- Data intelligence maturity and related implications
- Data culture, literacy, and business outcome improvements aligned with maturity
Request a demo to learn more about how Collibra can help you start your data intelligence journey.