The new assessment tool from Qlik and IDC will allow organisations to leverage Data to Insights (D2I) capabilities, which will aid evaluations of ability to turn raw data into business value.
D2I Score also provides recommendations for how to better support and focus strategic investments that can have significant bottom line impact.
The product’s launch is supported by research that reveals that companies identified as leaders in D2I, due to having stronger data pipelines, are associated with a 23% increase in revenue, compared to a 17% increase among all participants.
In addition, 90% of D2I leaders said that profit improved, versus 76% overall, while 88% declared improvement in operational efficiency, versus 76% overall.
The survey from Qlik and IDC saw 1,200 director, vice-president and C-suite decision makers from 11 countries worldwide, including the UK, US and India, take part.
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“Organisations across the globe are missing a crucial opportunity to impact their performance by turning data into ongoing business value due to gaps in leaky data pipelines,” said James Fisher, chief product officer at Qlik.
“Qlik’s unique end-to-end approach to data integration and analytics can help any organisation act at the speed of data through improved data-to-insights capabilities that drive tangible business outcomes.”
D2I capabilities by geographical location
Alongside the study from Qlik and IDC that gauged the impacts of strong data pipelines on companies’ bottom line was a more geo-specific data analytics application, which surveyed companies from 10 countries and calculated each country’s D2I capabilities.
The average D2I score across the 10 countries was 41.6, and a 17-point range was revealed in the analysis, between Brazil (52.5) and France (34.9).
Regional differences were also substantial; The Americas (US, Canada and Brazil) had the highest average score with 45, followed by APAC (India, Singapore, Japan and Australia) with 41.8, and EMEA (UK, France and Germany) with 37.8.
D2I scores, measured on a scale of 0-100, take into account performances in identifying, gathering, transforming and analysing enterprise data.
The Americas were found to see higher profit than average (19%), while APAC is seeing a higher than average efficiency improvement (19.7%).
Additionally, almost every surveyed company from every country (96% or higher) cited identifying valuable data sources as a significant challenge, with only Germany and Japan (89%) reporting a lower rate.
