ANZ Data Analytics Series Docs

Deloitte Access Economics and AWS: Demystifying data - The business benefits of improving data maturity in Australia and New Zealand

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Demystifying Data 2 Demystifying data Opportunity for an additional AU$1.5/NZ$1.6 million in revenue (equivalent to a 9%/12% increase) from increasing data maturity, according to research commissioned by Amazon Web Services (AWS). This revenue could allow businesses to hire an additional 16 full-time employees in Australia and 22 in New Zealand. Findings based on a survey of 275 businesses in Australia and New Zealand with over 100 employees. State of play 93% of businesses have invested in data analytics tools or software in the past year More than one quarter get meaningful insights out of their data monthly or less often 8 in 10 businesses employ dedicated data and analytics staff 2% Master 13% Advanced 25% Intermediate 44% Beginner 16% Basic What's getting in the way? Workplace culture (12%) Data access (13%) Funding (15%) Data quality (17%) 25% of businesses are aspiring to reach the top data maturity rung in the next five years. Taking proactive steps could help businesses reach this goal: Strategy: Identify where analytics can drive better business outcomes People: Create a data-driven culture Process: Create accountability in internal data management Data: Drive high quality insights from high quality data Technology: Use cloud solutions to support data driven insights The data maturity ladder Taking action Some of the potential business benefits include improving customer experience, enabling innovation and mitigating risk. Why data?

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