Research by Tilburg University, Tata Consultancy Services (TCS) and ICT Media into the correlation between data & analytics maturity and business effectiveness and performance.
AMSTERDAM, June 29, 2020:Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, today announces the release of a study that explores the correlation between data and analytics maturity and business effectiveness and performance. The study, commissioned by TCS, in partnership with Prof. Dr. Erik Beulen (Tilburg University / TIAS School for business and society) and ICT Media, shows that roughly 8 out of 10 (84%) Dutch companies need to step up and improve their data & analytics maturity to improve business effectiveness, and to disrupt and avoid being disrupted.
Prof. dr. Erik Beulen, Tilburg University / TIAS, says: “The study indicated that focusing on data and analytics improves business effectiveness and performances. The three most important insights were to: 1) Start with monetization in mind, 2) Get your basics right and 3) Perform an assessment.”
The study shows that 16% of the Dutch organisations assessed have their data and analytics ‘siloed’, as independent tactical capabilities within business units. Nearly half the companies surveyed (47%) have ‘simplified’ data and analytics capabilities across the business providing strategic visibility for the enterprise. Around one third (29%) are classified as ‘scaled’, meaning operational excellence for real-time decisions at enterprise level. Only 3 organizations (5%) have a ‘synergised’ data maturity level, which means that they have established a digital ecosystem enabling complex event processing across the enterprise and its afﬁliates. No more than 2 organisations assessed (3%) are ‘self-optimised’, the highest maturity level, with an intelligent, automation driven balance between human centric and machine centric decision-making using their ecosystem and PESTLE data.
Although the overall data maturity level is considered low to medium, Dutch companies are still ahead of their global peers when compared to global assessments by TCS with TCS DATOMTM.
Josu Devasia, Country Head TCS Netherlands, says:“Companies need to find new ways to grow their business in today’s disrupted market. Focusing on data and analytics offers that opportunity to many. I hope this study inspires organisations to step up their game and boost their business performance going forward.”
The study, conducted among 62 leading Dutch organisations of different sizes across more than 14 sectors and 10 information technology leaders in the Netherlands, assessed organisations on 5 aspects of data maturity: data management, analytics automation, types of data, types of analytics platforms used, and cloud adoption.
The full paper can be found here.