How Data Maturity Drives Business Success

At Heap, we’ve long argued that data-driven companies see more success. Now a new IDC White Paper reveals a direct correlation between data maturity and business success.

Regardless of industry, size, or location, companies that are data mature enjoy nearly 2.5X better business outcomes than those that aren’t.

    1200x900
    Better Business Outcomes from Advanced Data Maturity

    A newly released IDC white paper, sponsored by Heap, reveals the impact of data practices on digital experience teams. The independent report, “How Data Maturity and Product Analytics Improve Digital Experiences and Business Outcomes,” surveyed over 600 product builders and data scientists across company product teams in the US and UK.

    What was found? When it comes to digital experiences, data mature companies achieve 2.5x better business outcomes.

    As shown in the chart to the right, significant increases were seen for revenues and profits, efficiency, higher NPS scores and lifetime customer value.

    But it’s not just the top companies that see results. Data maturity progresses in developmental stages as better data practices are implemented within an org.

    Figuring out the best path to data maturity isn’t a guessing game. The IDC White Paper found that top companies combined a specific set of tools, practices, and culture, while the lowest performers were found to succumb to the same pitfalls.

    Download White Paper

    Stop speculating about “what will move the needle” and discover how your team can harness data to accelerate success.

    Data Driven Team

    It’s time to grow up and become data mature

    What does it mean to be data mature? It boils down to how well a company leverages data for decision-making. Rather than relying on gut instinct or defaulting to the status quo, data mature companies make decisions based on quantifiable insights into their customers.

    The IDC White Paper revealed several trends that help define data maturity, along with the most common ways data practices fall short. Key findings include:

    • 98.4% of mature teams have a good to excellent understanding of customer journey friction points

    • Despite huge gains, 69% of companies say that decisions are often driven by the HIPPO (Highest Paid Person) without regard for data

    • 82% of top teams have data validation fully automated, clearly-defined data access policies, and the ability to control data management

    Evaluate how your team’s data practices compare against the top-performing teams by downloading the full IDC White Paper.

    Download White Paper
    How-To Hub Guides

    Start hitting your maturity milestones

    There’s no time better than now to start becoming more data-driven. To help guide your data journey, we’ve created a series of instructional worksheets and how-to guides.

    These guides should provide your team with easy-to-use frameworks for becoming more data-informed. Through each exercise, digital experience teams should learn fundamentals from what to measure to how to make data actionable.

    Learn how you can start building data maturity by checking out all of the resources we have available.

    Amway

    Realizing business value through analytics is the culmination of many small wins pursued over time. You don’t do one analytics project a year to change the business. Using Heap we can make frequent data-informed decisions and iterate our approach each and every day.

    headshot-amway-brandonwalsh

    Brandon Walsh

    Customer & Product Analytics Manager

    Stop Missing Big Wins

    Discover how Heap could help your team leverage data to reach success.