Article
Data analytics journey: how do you know when you reach peak maturity?
June 8, 2021 · Authored by Dave DuVarney
An organization’s data analytics maturity journey moves from the organization using its data to tell a story of what happened to using its data to create a new revenue stream. The data maturity journey is a progression — and organizations need to acknowledge this and start where they can to begin the advancement of their maturity in the use of data.
The first article in our data maturity series highlighted that data maturity and organizational transformation go hand in hand. An organization that gets better at harnessing data will see transformation in its people, processes and overall business results. The second article focused on the different roles and responsibilities an organization has to fill as it becomes better at understanding and using its data. The third article laid out a simplified agile model for a data analytics project that would apply to any company regardless of where they sit in the data maturity model.
This article will help organizations understand when they have reached the payoff for their journey, where the organization has been transformed to use its data to drive better future results.
New data product, new customer value, new revenue stream
A business reaches the peak of data maturity when it can generate incremental revenue based on data it has accumulated and enhanced with other information, and then create a unique data product it puts into the market. There are many examples of this level of data maturity in practice:
