On average, data innovators release twice as many products and increase employee productivity at double the rate of organizations with less mature data strategies, according to a Splunk Inc. survey.
“In today’s world, data is a strategic asset helping organizations not just survive, but thrive,” says Doug Merritt, president and CEO, Splunk. “Our current era of innovation is propelled by those who are doing more than just storing and managing data. Organizations that have invested in placing data at the core of their operations are twice as innovative and twice as productive as those that aren’t.”
- Investing a mature data approach increased employee productivity by 16% in the past year, nearly double the increase of beginner-level innovators (9%).
- 50% of manufacturers applying data innovation to improve materials report a significant or game-changing impact.
- Over 50% of retailers using data innovation to optimize inventory or personalize offers, product recommendations and customer service report a significant or game-changing impact.
- 75% of healthcare organizations prioritize investments in data-innovation platforms (vs. point tools).
- 61% of financial services firms are impacting product/service development with data innovation, the highest percentage of all industries surveyed.
- 69% of North American organizations tend to prioritize investments in data innovation platforms (vs. point tools), slightly more than in Europe (67%), and notably ahead of APAC (58%).