Rise of the Datavores Juan Mateos-Garcia 13th March 2013
ContextDATA THE NEW OIL THE NEXT FRONTIER THE GREAT LEVELLERThe big innovation story of our time
ContextRemarkably data free discussions about adoption, benefits & best practices, beyond case studies, rarely looking at the UK.WE NEED MORE & BETTER DATA (AND ANALYSIS!) ABOUT DATA
Our Research Data Survey of 500 UK Are UK companies companies > 50adopting data-driven management & employees, active online. Analysis innovation? We look at Online customer data Action What are the (More than web impacts, good analytics; not just practices and about the website) barriers? Impact
Our findings We have found… The Datavores Businesses that rely on data and analysis over experience and intuition when they make decisions about how to grow their sales We have also identified businesses that do the opposite…let’s call them… the dataphobes
These two are the ying and yang of Data Most datavores are comprehensive in their data collection. Dataphobes less so.
Datavores sweat their data Datavores use advanced methods (experiments, statistics, prediction) , dataphobe mostly retrospective reporting.
…put it to work… Datavores not only use data to fix the website – it pervades the organisation, including in strategy & product development
…and they reap the benefits Datavores are 4 times as likely to say data generates substantial benefits in their business. They are also more innovative in products & processes
In spite of all of this…The datavores are in the minority! 18% Datavores compared to 43% of Dataphobes
What is going on?The dataphobes in our sample are commercially active online(generating, on average, 13% of their revenues there).On average, they employ 419 people (median 154)They appear to have the incentives and the capacity……Yet it looks like theyhave decidedto give the online datarevolution a pass http://www.blackhawknrhs.org/home.htm
WHY? Becoming a datavore isn’t free The investments need to be made today, the benefits happen in thefuture – Better leave it for tomorrow, wait for others to take the lead??Sources: http://www.squidoo.com/science-coloring-pages http://kalyan-city.blogspot.com/2010/06/organisation-organizational-structure.html; Believekin (Flickr).
The way forward MORE & BETTER DATA (AND ANALYSIS!) ABOUT DATA could help to: • Understand where are the bottlenecks (inputs, policy & tech) to more effective uses of data • Also where are the limits. • Measure benefits to encourage adoption & consider trade-offs. • …and identify good practices to make adoption smooth
will be addressing some of the issues inthe coming months. Thank You Juan.firstname.lastname@example.org