Use Insights to improve your Data and Analytics Maturity.
As data becomes more and more ubiquitous, the ability to understand and use that data in a meaningful way will become an increasingly important competitive differentiator. To stay ahead of the curve, companies need to be proactive in their approach to data and analytics, and work to mature their capabilities in this area. Topics such as data governance, data quality, big data analytics, and advanced analytics are becoming more important every day, and companies that don’t pay attention to them will quickly find themselves at a disadvantage. By understanding these topics and working to improve their maturity in this area, businesses can stay ahead of the competition and continue to thrive in today’s digital world.
Insights on Data and Analytics.
MoreThanDigital Insights helps you achieve optimal performance within an organization and futureproof your organization by highlighting areas for improved data collection, data governance up until data science. Data and analytics provide organizations with the insights they need to make better decisions.
Improve your Data maturity
Insights helps you identify the best opportunities to improve your organization as a whole. This includes improving areas such as data collection, governance, security, analytics, and data science.
The goal of improving your data and analytics maturity is to build the pillars for future success. This will make your organization ready for change, able to adapt to new technologies, and future-proof.
OWNING, SHARING AND ACCESSING DATA
Data Governance & Exchange Maturity Assessment.
Mature data governance and exchange can support companies achieve their goals by removing ambiguity from the data-sharing process. Inefficient or nonexistent governance can lead to duplicate data entry, incorrect information sharing, and missed opportunities. A lack of standardization in the way organizations share data can also lead to confusion over who owns the data, how it should be used, and where it should be stored.
Data Governance & Exchange Maturity Benchmark
When assessing the maturity of data governance and exchange practices, it is important to compare them to the standards set by other organizations. This can help to identify areas in which a company’s practices may be lagging, and provide a roadmap for improvement.
INTERNAL AND EXTERNAL DATA SOURCING
Data Sourcing Maturity Assessment.
Data sourcing is one of the most important aspects of any organization. It is the process of finding and acquiring data to be used in business decisions. The quality of data that is sourced can make or break a company. That’s why it’s so important to have high maturity when it comes to data sourcing. Only by having a mature and well-functioning data-sourcing process can you be sure to get the best data for your needs.
Data Sourcing Maturity Benchmark
Benchmarks can help you set goals for your organization’s data-sourcing process. Striving to meet or exceed the benchmarks of others can help improve the quality and efficiency of your data sourcing strategy.
MANAGEMENT, LEADERSHIP AND CULTURE
Technology Enablement Maturity Assessment.
To make the most of data and analytics, you need to have good systems in place for collecting, managing, and processing data. Technology enablement is important as a basic maturity for data and analytics because it lays the groundwork for all the other steps. Once you have good systems in place for handling data, you can start extracting value from it through analysis and visualization. And that’s when the real insights start coming out.
Technology Enablement Maturity Benchmark
Comparing your company’s technology enablement maturity with that of your peers can be a useful exercise. It can help you identify areas where you are strong and areas where you need to improve. With this, you can advance your data and analytics strategy.
UNDERSTAND AND MAKE USE OF DATA
Data Science Maturity Assessment.
The data science maturity assessment is important for businesses because it can help them see how well they can extract information from data and use that information to make data-driven business decisions. A high data science maturity level means that the business can use data effectively to make better decisions, while a low maturity level means that the business may not be using data as effectively as it could be.
Data Science Maturity Benchmark
Benchmarking and comparing industry results is important to understand how well other businesses are performing in terms of data science. This information can help businesses make better decisions about their data science practices and improve their overall business operations or get more funding.
DATA SCIENCE CAPABILITIES AND EXPERTS
Data Strategy & Capabilities Maturity.
Data science capabilities are essential for any business. A company must have the ability to collect, process, and analyze data to make informed decisions. Data science teams must be well-trained and equipped with the latest tools and technologies to make sure that data is used effectively.
Data Strategy & Capabilities Maturity Benchmark
Comparing and benchmarking data strategy and data science capabilities to peers is a good way to see how well you’re doing. It’s important to stay informed about what the industry is doing so that you can stay competitive.
SECURING AND PROTECTING DATA
Data Compliance & Security Maturity.
Data compliance and security are important pillars for data strategy success. Data governance and management can help to ensure that data is quality controlled and secure. By implementing data compliance and security measures, an organization can protect its data from unauthorized access, alteration, or destruction. Compliance with government and industry regulations is also critical for organizations that handle sensitive information.
Data Compliance & Security Maturity Benchmark
Benchmarking the compliance and security of an organization against its peers is important for understanding where an organization stands in terms of data governance and management and if some improvement is needed.
Why analyze your Data Strategy and Analytical Capabilities?
Many companies are finding that to stay competitive, they need to become more data-driven. This means having the ability to not only gather and store data but also to analyze it to gain insights that can help inform business decisions. A robust data strategy and accompanying analytical capabilities are essential for this.
There are several reasons why companies need to build data and analytics capabilities. First, data is becoming increasingly important for businesses to be able to understand and act on. A recent study by Forbes Insights found that 87% of executives believe that data is a critical business asset. And according to a report from MIT Sloan Management Review, companies that can use data effectively are more than five times as likely to be profitable as those that don’t.
Second, data can help companies future-proof themselves. As technology advances and the world becomes increasingly connected, the amount of data available is only going to continue to grow. Those businesses that can harness this data and turn it into insights will be in a much better position to compete in the future.
Finally, having strong data and analytics capabilities can give companies a competitive edge. By being able to analyze data quickly and effectively, businesses can make better decisions, faster. This can help them gain a foothold on their competition, respond more effectively to market changes, and optimize their operations.
Overall, it’s clear that having a strong data strategy and robust analytical capabilities is essential for any business looking to stay competitive in today’s world.
Business Analytics Platform.
Measuarble Business Dimensions
Some questions answered
Here are the answers to some of the most frequently asked questions about the MoreThanDigital Insights platform. If your question is not included, we’d love to hear from you!
How can I analyze my organizations maturity?
MoreThanDigital Insights is an excellent choice because over 50+ industry-leading experts have developed the relevant business dimensions to measure. With the guided flow and helpful functionalities, you’ll be able to do maturity surveys with your employees and even benchmark your results versus your peers and industry averages.
We even keep your data safe, anonymous, and confidential.
How can I improve my company based on this data?
Insights gives you a highlighted overview of your company’s performance and how it stacks up against the competition, peers, or industry. The maturity section will help identify where you need to focus your efforts on all relevant business dimensions, and the peer insights section provides a valuable resource for benchmarking. Finally, the more you know what’s working (and what isn’t), the better you’ll make informed, data-driven decisions that improve your business.
Can anyone see my data? Is it safe?
Your company’s data and financial insights are safe with us.
Only you can see it, and nobody else can search for it. Insights meets the most stringent requirements for protecting your data in transfer and rest.
However, if you invite others to Insights and view your financial data, they may have access to that information. So please be careful when inviting consultants, employees, and managers. Our comprehensive User-Access Management will help you manage the visibility of your sensitive data; by default, nobody can see your financial data.
Who are my peers for comparisons/benchmarks?
In our free version, your peers for comparisons and benchmarks can vary depending on several factors, including country, industry, and company size and will be automatically set by our system. Your company will then be compared against your primary sector and relevant size classification within your country/state.
However, with our premium, you can choose your peers based on what best represents your company’s positioning. This could include data from multiple countries, a range of company sizes, or companies in complementary industries.
It’s also important to keep in mind that you should always be looking to set your peers right and aim for excellence in essential areas – this is what will help you stand out from the competition.
Is Insights really free? Are there hidden costs?
Yes, Insights is free for everyone. We believe that by making it easier for people to get insights from their data, they can be more successful in their businesses and positively impact the world. That’s why we’re committed to being the most accessible analytics platform.
To save server workload, we only limit peer data and report dept, which is then reserved for the premium version. For your personalized peer data set and more in-depth reports, please support our mission by buying a premium report.
Please read our #bethechange statement – why MoreThanDigital gives everyone access to such tools.