Let's talk about data maturity
Data maturity is no utopia
Organisations that use data to make decisions on a day-to-day basis are likely to be data mature, while those who do not yet use analytics are at the start of this journey.
Data maturity is a measure of how advanced a business is at managing and utilising data. Organisations that use DATA to make decisions on a day-to-day basis are likely to be data mature, while those who do not yet use analytics are at the start of this journey.
There are a few key characteristics shared by just about every data mature organisations :
- they manage data as an enterprise asset and have data strategies that are closely tied to their business objectives;
- their data handling personnel have clearly delineated roles and responsibilities and understand the importance of great data to the business;
- their Data Producers/Data Creators are fully aware of the need to provide high-quality data to their Data Customers/Data Consumers;
- they have well-defined Critical Data Elements (CDEs) and good interdepartmental communication; and last but not least, they work with high-quality, dependable data.
But organisations with low data maturity often suffer from the following problems :
- they spend almost 40% of their time making ineffective decisions;
- they suffer from a lack of data literacy, which means that > 65% of all their data is never analysed or deployed;
- their employees often lose more than 5 working days each year due to procrastination/confusion caused by low data quality;
- the lack of intelligent data automation increases their operational costs by 40-75%.
Understanding data maturity and how to climb the data maturity scale can bring a whole new dimension to your organisation, not just with how it uses its data but how it performs as a whole.
Contact Irma today to find out how we can help you with your own data management needs. It could really make the difference between your organisation’s continued success or not! We have already helped many organisations on their journey to data maturity. So talk to us about how we can do the same for you.
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Irma consulting sàrl
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