Enterprises with top-tier data cultures more likely to meet and exceed revenue goals
Redwood City, Calif. – June 29, 2021 –As Global 2000 companies recover from the COVID-19 pandemic, revenue and growth have taken center stage. Nearly two-thirds (63%) of data professionals surveyed in the latest Alation State of Data Culture Report out today say their data strategy is focused on enabling business growth. The report found that generating revenue topped the list of key drivers of organizations’ data and analytics priorities, with 54% ranking it #1. Coinciding with the focus on growth and revenue, 61% of data leaders cite sales and/or marketing as top proponents for data and analytics needs.
Produced by Wakefield Research for Alation, the leader in enterprise data intelligence solutions, the Alation State of Data Culture Report provides a quarterly assessment of the progress enterprises have made in creating a data culture, the challenges they face in embracing data-driven decision-making, and the progress they have made in leveraging data to drive business value.
As a part of its analysis, the report includes the Alation Data Culture Index™ (DCI), a quantitative assessment of how well an organization is positioned to enable data-driven decision-making across three key disciplines: data search & discovery, data literacy, and data governance. Enterprises are ranked low-, mid-, and top-tier based on how widely adopted these disciplines are across the enterprise
According to the report, 75% of top-tier data culture companies met or exceeded revenue targets. Also at top-tier data culture companies, product innovation is tied with generating revenue (51%) as a top data and analytics priority.
“In what has been an extremely challenging year, a strong data culture has again asserted itself as an essential ingredient for organizations regaining their footing,” said Julie Smith, Director of Data & Analytics, Alation. “Any strong data culture needs data literacy which thrives when there is engagement between employees and data. Driving that engagement through the right technology, one that embraces the community element of data culture, is a foundational step towards this.”
While revenue and growth take precedence for organizations, many still experience challenges with a lack of data democratization, which impedes utilizing data to drive business goals. Nearly all (97%) data leaders surveyed cite negative consequences due to inadequate data democratization, including:
- 77% citing negative impact on the bottom line
- 67% citing negative impact on innovation
- 61% citing negative impact on reporting and forecasting
Despite this, only 30% of data professionals say that data democratization is a top priority, leaving companies vulnerable to these consequences.
- Download the Q2 2021 Alation State of Data Culture Report
- Read the blog, Alation State of Data Culture Report: The Conflict Between Growth and Governance
About the Alation State of Data Culture Report
The Alation State of Data Culture Report is a quarterly study sponsored by Alation and executed by Wakefield Research. Wakefield Research conducted a quantitative research study among 300 Data & Analytics Leaders at enterprises with 2,500+ employees in the US, UK, Germany, Denmark, Sweden, and Norway. Enterprises are polled each quarter regarding the progress of establishing a data culture — i.e., a culture of data-driven decision making — within their organizations, the challenges they face in embracing data-driven decision making, and the progress they have made in leveraging data to drive business value for their organization.
Alation is the leader in enterprise data intelligence solutions including data search & discovery, data governance, data stewardship, analytics, and digital transformation. Alation’s initial offering dominates the data catalog market. Thanks to its powerful Behavioral Analysis Engine, inbuilt collaboration capabilities, and open interfaces, Alation combines machine learning with human insight to successfully tackle even the most demanding challenges in data and metadata management. More than 250 enterprises drive data culture, improve decision making, and realize business outcomes with Alation, including AbbVie, American Family Insurance, Cisco, Exelon, Finnair, Munich Re, New Balance, Pfizer, Scandinavian Airlines, and US Foods. Headquartered in Silicon Valley, Alation was named to Inc. Magazine’s Best Workplaces list and is backed by leading venture capitalists including Blackstone, Costanoa, Data Collective, Dell Technologies, Icon, ISAI Cap, Riverwood, Salesforce, Sanabil, Sapphire and Snowflake Ventures. For more information, visit alation.com.
About Wakefield Research
Wakefield Research supports the world’s most prominent brands and agencies, including 50 of the Fortune 100, in 90 countries. We provide quantitative, qualitative, and hybrid market research and market intelligence. Our work is regularly featured in the media.