How to Connect Data to Meaningful and Measurable Results
Highlights on building an IT Metrics Correlation Model to gain the full value of your data.
Data is the lifeblood of the organization, we're told. It's a strategic enterprise asset, to be consumed by all. It's the key to understanding customers, cutting costs and increasing profits.
And so on and so on.
But if it's so valuable, then you'd expect organizations would take care of their data - love their data, as Karen Lopez likes to say. How's that working out? Let's look at what the recent stats on data management say about how much respect the data gets.
When it comes to data, our intentions are good, even great:
80 percent. Professionals who say data quality and data integration are "important or critical" for business intelligence, according to a MorganFranklin Corporation survey.
48 percent. Professionals out of 551 surveyed last November by Lodestar Research who say they're, um, in the process or, you know, planning to implement a system that will give them a single view of customers in the next 18 months.
18 percent. Those who plan to form a data management strategy within the year, maybe year and a half.
But everyone knows where the road of good intentions leads. So how are we actually doing?
Here's what the Lodestar survey, released last month by DataFlux, found:
17 percent. Those who've actually achieved a single view of their customer base.
21 percent. Those who have a well-defined data management strategy in place.
28 percent. Those who are implementing their data management strategy as we speak (or three months ago).
4 percent. Those with no plans to establish a formal data management strategy in the foreseeable future, thank you very much.
9 percent are totally clueless.
Break it down for me.
As you might expect, those numbers do shift if you break it down by size, although not by much.
23 percent. Organizations with less than 1,000 employees who say they have a well-defined data management strategy in place, compared to
21 percent of organizations with 1,000 to 9,999 employees.
24 percent of large companies with more than 10,000 employees.
But there is a big difference if you look at who is in the process of implementing a data management strategy:
25 percent of small companies, and
26 percent of medium companies compared to
42 percent of large companies.
So what are organizations working on? It does look like companies are at least moving in the right direction, sort of.
55 percent. Reported doing data integration projects over the past 18 months in the same survey.
59 percent. Reported their company worked on data quality over the past 18 months, according to the Lodestar survey.
31 percent. Those who said their company worked on an MDM project during the same time period.
So how are organizations doing when it comes to managing one of their supposedly most precious resources.