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How companies manage data and AI initiatives

  • 7 mths ago

In the Foreword to this year’s survey, NewVantage Partners CEO Randy Bean, and Thomas H. Davenport, a Fellow with the firm, write “The ten years of the survey provide a useful measure of progress—or the lack thereof in some respects—in how companies are managing these important initiatives. From 2012 to 2022 the survey has assessed the initiatives that large companies are focused on, where they are investing and the returns they are getting, the roles assigned to manage data, and the issues that cause significant challenges.”

The state of data and AI initiatives

Investment in data and AI initiatives continues to grow as efforts deliver measurable results

Investment in data and AI initiatives continues to grow – the 2022 survey indicates that 97% of participating organizations are investing in data initiatives and that 91% are investing in AI activities. This year, 92.1% of organizations report that they are realizing measurable business benefits, up from just 48.4% in 2017 and 70.3% in 2020.

Achieving data-driven leadership remains an elusive aspiration for most organizations

Organizations still face a potentially long road ahead of them in their efforts to become data driven. Less than half of respondents replied that they were competing on data and analytics – 47.4%; only 39.7% reported that they were managing data as an enterprise business asset; barely over a quarter – 26.5% — report that they have created a data-driven organization; and just 19.3% indicate that they have established a data culture.

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