KPMG has made a research „The Data Imperative” in which they found out, that current data management strategies have to be thought over, so that they can be profitable from previous years’ investments. Due to COVID lockdowns, most of the companies had their focus on digital transformation, and this caused the lack of highlight on data management. The research showed that only 11% of companies found it important to evaluate the business opportunities which are hidden in datas. However, in the following years, it is obvious that data analyzing will play the key role in optimizing companies’ operations.
Nowadays, we produce a huge amount of data via several technologies, communication devices, and social media platforms. These datas create the opportunity for companies to evaluate the needs of their clients, and to serve them more directly.
The pandemia though crossed the trend of utilizing these data. It is somehow reasonable, as companies had to fit in to an environment, that they mostly were not ready for, so they placed surviving in their focus.
The research made by KPMG clearly showed, that bigger percentage of companies (at least on the company level) have no data strategy at all. Only one third of participants said that they utilize the opportunities from datas as much as possible. However, the positive side of results, is that 75% of participant companies said that they are aware of the fact, that data usage can change the company’s operations completely. So despite of the fact, that they do not have the appropriate sources for data management, they do have plans on starting this activity in the future.
The research also shows that although media and the communication sectors are the most developed in digital transformation (regarding to the pandemia’s lockdowns), they are still not utilizing most of the opportunities hidden in datas. If they do so, there are many problematic challenges they have to face. Despite these facts, the leaders of companies know that the appropriate usage of their datas is able to make financial results better, so investing in this field is always profitable for them. The participants of the market agree on something: the upcoming years have to aim the speed-up of digital transformation while using the datas. The biggest supports of this field are going to be the cloud services.
Source: KPMG