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    What Do Data-Driven Companies Have in Common - Research Reveals Five Key Trends

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    What Do Data-Driven Companies Have in Common - Research Reveals Five Key Trends

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    What Do Data-Driven Companies Have in Common - Research Reveals Five Key Trends

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    Juan Pablo Manson

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    What do data-driven companies have in


    common? Research reveals five key trends

     SHARE

    ASHLEY HOWARD NEVILLE


    SENIOR EVANGELIST, TABLEAU
    JULY 26, 2021

    Recent IDC research, sponsored by Tableau, found that 83% of CEOs want a data-
    driven organization, but only 33% of executives are comfortable questioning business
    KPIs and metrics1, revealing disparities between what executives “want” and
    “have.”(1) Nearly all executives say they want their organization to be more data-
    driven, but discount cultural investments that help bring that change to reality.

    As more organizations see and understand their data, and some grow data use at
    enviable rates, Tableau and IDC felt it was useful to explore behaviors, characteristics,
    and key trends that set data-leading companies—ones with a strong Data Culture—
    apart. We conducted a survey of over 1,100 business leaders across 10 countries in
    technical and non-technical roles, investigating the presence and depth of five trends
    that drive a successful Data Culture and help shift the position of organizations to
    become data-leading.
    In our research, we found that investing in data-driven behaviors often translates into
    measurable, positive impact and business performance with:

    Five trends that define a strong enterprise Data


    Culture 
    The attributes of a leading Data Culture range from visible characteristics like training
    methods, tools available and used, and business processes to subtle, hard-to-quantify
    characteristics such as empathy, identity, and confidence in data skills. The five
    common trends among data-driven organizations are: 

    1. Talent: Setting expectations for a wide spectrum of data-related activities

    2. Trust: Valuing trust and accountability in governance decisions

    3. Mindset: Encouraging data exploration and curiosity for everyone 

    4. Sharing: Breaking down silos by emphasizing collaboration

    5. Commitment: Realizing value from data, not just using it 

    Companies and Tableau customers such as Swiss Life, Bank Mandiri, Jones Lang
    LaSalle (JLL), and JPMorgan Chase & Co (JPMC) have evolved their behaviors and
    mindsets around data use to establish some of these defining characteristics,
    becoming data-leading. Let’s take a closer look at each trend and some of their
    transformational stories. 

    Trend #1: Talent 


    This trend relates to the ability of individuals to analyze, interpret, and communicate
    with data, and then use it to argue a point or make smarter decisions—a set of
    competencies also known as data literacy. The IDC research revealed that enterprises

    become more data-driven when they prioritize data literacy by hiring data-literate
    people and upskilling employees. 

    “Data-leading companies were 3x more likely than data-aware organizations to


    require new hires to know how to persuasively present data.”

    Swiss Life, the 110-year-old insurance and asset management leader, experienced this
    firsthand. For years, the company struggled with expensive and complex data
    architecture—too many tools, data sources, and more. This caused extra work for IT
    and unreliable results. Something had to change. This led them to re-evaluate their
    approach to decision-making, starting with data skills. They developed cross-
    functional analytics training for hundreds of employees that built up their confidence
    and competence with using data. This investment in data skills led to a stronger, long-
    lasting Data Culture. 

    Trend #2: Trust


    Critical to democratizing data literacy, governed access, trust, and accountability in
    analytics are foundational to a thriving Data Culture. Having both trust from
    leadership and transparent access to governed, accurate data, results in greater
    employee responsibility and accountability for the information used and needed. 

    With data-leading organizations in North America, 70% more respondents said that
    stakeholders made it easy to access the data they need to do their jobs than in data-
    aware organizations.

    Bank Mandiri, the largest financial institution in Indonesia, embedded data-driven


    decision making at all levels with trusted self-serve analytics. Previously, analytics
    requests took weeks to complete, were shared in a difficult-to-consume format, and
    depended on the Enterprise Data Management (EDM) Group to handle. These
    challenges were at odds with the bank’s commitment to provide the best, most
    effective customer solutions. This prompted them to increase efficiency of processes
    and launch a new data governance unit. “Good governance is substantial to a data-
    driven organization,” says Billie Setiawan, senior vice president of the Enterprise Data
    Management (EDM) group. “It’s not about providing everyone with access to all data,
    but ensuring that people can access the data which is relevant to their responsibilities.
    We call it a ‘need to know basis ’”
    We call it a need-to-know basis.’”

    Trend #3: Mindset


    To create a strong Data Culture, our research found that it’s critical to transform
    behaviors and mindsets around data. A Data Culture encourages experimentation,
    innovation, exploration—and even failure—with data. Part of this is intentional
    prioritization and commitment from executives and individuals to bring data to
    meetings, use analytics platforms to ask questions, and to rely on data instead of
    assumptions or intuition when making decisions. 

    On average, 73.5% of respondents in data-leading companies across all geographies


    said their decision making was always data-driven.

    Building management giant Jones Lang LaSalle (JLL) saw the strategic balancing act
    needed to create an effective training plan that evolved behaviors, mindsets, and skills
    around data. Make it too basic and you lose momentum; make it too difficult and risk
    alienating less data-literate employees and exacerbating the skills gap. They
    recognized data training is not just about technical skills; it’s how you think about
    data and develop a narrative around it. They designed trainings centered on how to ask
    questions and have conversations with data. From that flowed the analytics skills
    everyone felt comfortable using.

    Trend #4: Sharing


    Our research revealed that at the heart of strong Data Cultures is collaboration and
    community around data. Data-leading organizations eliminate silos by creating
    environments where people share and support one another to achieve common goals.
    This often shows up as internal communities, internal and external analytics events,
    office hours, and other community-building activities.

    Organizations with strong Data Cultures made investments in 5+ community


    building activities—while organizations that hadn’t yet transformed their Data
    Cultures were supporting two or fewer.

    JLL began its Data Culture journey with the support of executive leadership who
    prioritized data-driven decision-making in the entire workforce. They focused on
    developing a strong sense of community around data through analytics trainings,
    community-building programs, and continuously highlighting the “data champions”
    that work at all business levels. By celebrating analytics achievements and promoting
    “positive deviance ” JLL recognizes data use and asks that employees encourage peers
    positive deviance,” JLL recognizes data use and asks that employees encourage peers

    to model similar behaviors, deepening the roots of their Data Culture, now and in the
    future. 

    Trend #5: Commitment


    Most organizations want to be data-driven but the IDC research highlighted that the
    organizations who succeed have leaders that value and show commitment to data use.
    This shows up in investments across people, processes, and technology to deploy and
    adopt data and analytics at scale. It is also absolutely essential to have C-suite
    members and line-of-business who understand data’s importance and use it for
    themselves daily. In fact, “executives in data-leading companies are eight times more
    likely to actively use data in their work compared with data-aware companies.”

    On average, across geographies, there was a 46.2% difference between data-leading


    and data-aware organizations with respect to treating data as an asset and
    recognizing the value it delivered.

    JPMorgan Chase & Co. (JPMC), a leading global financial services firm, grew through
    mergers and acquisitions. Along that journey, data grew vital to business operations
    and strategy—helping enhance the customer experience, reducing risk, and informing
    strategy. But operating in a highly-regulated environment, IT had to establish data
    governance balanced with data access and compliance. Creating a Center of Excellence
    involving IT and other business leaders as enablers, JPMC transitioned from IT-owned
    to business-owned self-service data analytics. This helped remove any data barriers
    and enabled them to stay on pace with or ahead of industry changes optimizing
    success across marketing, branch operations, customer service, sales, risk, and
    compliance.

    It’s a marathon, not a sprint, to become data-driven 


    Taking incremental steps can help organizations regardless of type, size, and industry
    grow their Data Culture, shifting from being data-aware to data-leading. Like
    marathon preparation, it requires planning, practice, reflection, and achieving small
    wins to work toward goals such as competitive advantage, customer satisfaction, and
    improved productivity to help your business thrive in the “new normal.”
    Review our research with IDC and discover how Data Culture will fuel business value.
    To learn how to build one review the Tableau Data Culture Playbook. It includes

    valuable insights from customers such as Dubai Airports, Red Hat, and others who
    succeed at decision-making, data discovery, and other areas.

    Consult this sample dashboard featuring IDC data to see where your organization
    ranks against others in being data-driven:
    Data
    BAN
    Lowest
    Culture
    Numbers
    Explore
    Highest DataFuels
    Data: IDC, Data CultureData-Driven
    the(mobile)
    DataCulture
    Culture
    Visualization: Score
    Score
    Tableau
    Organizations
    factors setting the leaders apart.
    Overall Data Culture Score

    BAN

    Numbers

    (Total)

    (mobile)
    Commitment Score

    0
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    10
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    Go to Tableau Public
    Undo

    1. IDC WHITEPAPER, SPONSORED BY TABLEAU, HOW DATA CULTURE FUELS BUSINESS VALUE IN DATA-DRIVEN
    ORGANIZATIONS, DOC. #US47605621, MAY 2021.

    2. IDC INFOBRIEF, SPONSORED BY TABLEAU, WHY YOU SHOULD CARE ABOUT DATA CULTURE, DOC. #US46030720TM, APRIL
    2020.E

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