As communicators are well aware, the need to unlock greater business value from data is clear, and new research from digital enterprise software firm BMC asserts that a well-defined DataOps strategy is emerging as the key to manage and integrate analytics to uncover new opportunities, quickly respond to issues, and even respond to previously unforeseen challenges.
The firm’s new report, Profitable Outcomes Linked to Data-Driven Maturity, based on a survey conducted with research partner S&P Global Market Intelligence, examines the relationship between data-driven practices and investment, and an outcome-based DataOps strategy.
For organizations using DataOps methodology to support all data-driven activities, 41 percent strongly agree that their organization can apply data-driven insights to drive business goals, compared to only 13 percent of respondents from organizations that do not.
Automation is necessary to scale up efforts around data use in an enterprise-wide, democratized data scenario, and a lack of automation (40 percent), along with data privacy and security requirements (38 percent) and data quality concerns (38 percent), are persistent pain points. However, organizations with more mature data-driven practices, DataOps strategies, and strategic technology investments were shown to deliver better results.
There are multiple reasons to pursue data-driven practices and data-driven maturity. The business outcomes that organizations cited they are most focused on improving through the effective use of data are increased revenue (68 percent), customer satisfaction (55 percent), and cost reduction (50 percent).
Additional findings from the report include:
- Seventy-seven percent of respondents with highly mature DataOps programs report that customer satisfaction has been an area of greatest impact in their organizations’ use of data.
- Fifty-five percent of respondents state customer satisfaction as an effective data usage-related spending and strategy goal. Yet, only 39 percent say they are highly effective at using data for customer-facing processes.
- The top drivers for organizational adoption of data management tools and processes are data quality and integrity initiatives (57 percent), business insights that drive new revenue (53 percent), and cloud migration initiatives (50 percent).
“Organizations recognize that they are in the midst of a data conundrum and that deeper investments in their data strategies equate to improved business outcomes,” said Ram Chakravarti, chief technology officer at BMC, in a news release. “Enterprises will gain immense value by considering the entire flow and use of data from sources to insights and action, and having the right tools play a critical role in ensuring that success.”
BMC commissioned S&P Global Market Intelligence to conduct the survey in late 2022. The survey sourced insights from 1,100 IT and data professionals from large enterprises in diverse global regions across various industries and eleven countries.