Report: Analytics maturity key to success

​Higher analytics maturity correlates with higher financial performance

Higher analytics maturity correlates with higher financial performance, company performance and brand reputation according to a fresh industry report.

The research report, How Analytics Maturity Powers Company Performance, was conducted by the International Institute for Analytics (IIA) on 74 global companies. Of the 72 different metrics examined in the study, 59 showed a positive association between analytics maturity and financial or company performance, and increased shareholder value.

The study also found those companies in stage four of analytics maturity (using a five-stage maturity model) achieve higher levels of performance than companies in the second or third stage of analytics maturity; while companies with high levels of analytics maturity are more likely to be included in and rank higher in ‘Top Company’ lists from Fortune (Most Admired), Forbes (Most Powerful Brands, Most Innovative), Brand Finance (Top 500 Most Valuable Brands) and Boston Consulting Group (Most Innovative).

Recommendations from the report include that companies should continue to invest in the development of analytics capabilities to remain competitive; build analytics capabilities and better realise value from the investment requires a strategic approach and a long-term perspective.

In addition, companies should consider mechanisms for assessing their current state of analytics maturity and measuring the development of this strategic capability over time. Business leaders seeking to pursue improved enterprise analytics capabilities should also consider the potential positive impact on company performance and shareholder value in their communications.

US lead analytics architect at Dataiku, Dr Kenneth Sanford, said the results of the study show data science and analytics are now a part of every thriving company’s strategy for success. Dataiku sponsored the study.

“This study has given us a way to quantify how well companies are using their resources and the potential impacts if they do or don’t become more data driven. The results uncovered by this study shouldn’t be alarming, but the fact that we are now able to quantify the level of analytics maturity within companies is a testament to the level of technical prowess we have achieved in data science and analytics in recent years,” he said.    

The study looked at companies across a variety of different industry segments and evaluated them based upon IIA’s Analytics Maturity Assessment (AMA) methodology designed to evaluate their analytics maturity.

The list of 74 companies included in the study were selected to span the spectrum of the US economy. The oldest company on the list (JP Morgan Chase) can trace its founding to 1799. The youngest company (Facebook) was founded in 2004.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu  

 

 

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

3 marketing mistakes to overcome when courting prospective customers

Marketing that urges respondents to ‘buy now’ is a little like asking someone to marry you on your first date. At any time, only 3 per cent of the market is looking for what you’re selling, so the chances of your date randomly being ‘The One’ is pretty slim.

Sabri Suby

Founder, King Kong

Why are we dubious about deep learning?

The prospect of deep learning gives those of us in the industry something to get really excited about, and something to be nervous about, at the same time.

Katja Forbes

Founder and chief, sfyte

Why you can’t afford to fail at CX in 2019

In 1976 Apple launched. The business would go on to change the game, setting the bar for customer experience (CX). Seamless customer experience and intuitive designs gave customers exactly what they wanted, making other service experiences pale in comparison.

Damian Kernahan

Founder and CEO, Proto Partners

Red Agency YouGov Galaxy Report, February 2019 Predictors Study. https://redagency.com.au/re...

Vanessa Skye Mitchell

DNA-based marketing: The next big thing?

Read more

RIP holden

Max Polding

Marketing professor: For Holden, brand nostalgia ain’t what it used to be

Read more

Where does the claim that 2 million Australians have tested come from ? Anecdotal information suggests that this is way off the mark.

David Andersen

DNA-based marketing: The next big thing?

Read more

Thank you for the info , being part of a digital marketing agency in kerala , this proved handy and get to know with upcoming trends. htt...

Dotz Web Technologies

Predictions: 9 digital marketing trends for 2019

Read more

So who then is correct? The Research or The skilled Digital people.

Anene

Report reveals Australia faces digital skills shortage

Read more

Latest Podcast

More podcasts

Sign in