Did you know that data-driven businesses are 178% more likely to generate greater revenue and create greater profitability than their peers? Data analytics is a huge boost to business success, yet only 24% of executives have created a data-driven organization. Why is that?
Although data analytics is so valuable, it is also one of those areas which many executives find overwhelming. Some of the top barriers to adopting analytics are low-executive buy-in, poorly articulated data strategies, data illiteracy, and lack of training, to name a few.
These and other barriers mean that 73% of all data available to an organization is underutilized or completely ignored. The basic result is that companies without data analytics just aren’t making as much as they could be.
One of the data issues is quality. Poor data quality causes $15 million in annual losses, on average. These losses stem from less productivity and forward movement, poor business strategies, expensive and ineffective processes, and poor customer relations.
Some businesses may think they’re doing well without data analytics, but it’s almost a guarantee they could be doing better. Data analytics can help businesses identify areas for expansion, spot potential risks, create innovative products and services, and improve customer acquisition and retention with the right support, the right strategies and goals, and the right tools.
Google 360 does all of this and more, with the help of professional analytics partners for your business, included with your Google 360 license. Your company can finally get the support and knowledge necessary to use your data to the fullest extent, further business growth, and rise above your current “best.” The privacy and protection of data, advanced analytics tools, support and training, and visual reporting will help take your business to the next level of success.
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Last Updated on September 15, 2021.