Report: How data maturity affects your bottom line

by | Sep 2, 2022 | Technology

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The most mature digital product analytics teams (those that best leverage digital analytics tools and processes) have 2.5 times greater improvement of business outcomes across the board than the least sophisticated teams. When measuring revenue improvement as a business outcome, the most mature (also called leaders) exceeded the least sophisticated (also called laggards) by a difference of almost 28%.

Independent research from a newly released IDC white paper, sponsored by Heap Analytics, “How Data Maturity and Product Analytics Improve Digital Experiences and Business Outcomes” surveyed digital experience decision-makers to gain a deeper understanding of the maturity levels that currently exist in the adoption and use of digital product analytics technology, culture and practices.

The paper focuses on data maturity’s impact on business outcomes, as well as determining best practices and opportunities for improvement. The research verified that increased data maturity — meaning how well a company uses data and leverages it in its decision-making — resulted in increased revenues and profits, better efficiency, higher NPS scores and lifetime customer value.

Data maturity best practices

The report also revealed the best practices of data maturity leaders, including the fact that 98% of leaders have a good to excellent understanding of customer journey friction points, while only 29% of laggards reported they have a good-to-excellent understanding in this area. 

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