We’re definitely in AI hype mode at the moment largely driven by the evolution in generative AI.
However, it seems like this progress is not necessarily driving lots of data-related innovation inside organisations that are not AI-first tech companies.
A recent survey published by Randy Bean’s company, NewVantage Partners, confirms this. Here are the main findings compared to when the survey was last run 4 years ago:
- 59.5% of executives say their companies use data for business innovation – the same as four years ago.
- A drop from 47.6% to 40.8% of executives say their companies compete using data and analytics.
- Fewer executives (39.5% down from 46.9%) say their companies manage data as a business asset.
- Only 23.9% of executives now say their companies are data-driven, compared to 31% before.
- Just 20.6% of executives report having a data culture in their companies, down 27% from 28.3% in 2019.
These numbers spell regression, not progress.
Why is it so hard to become a truly data-driven organisation?
In this episode, Randy and I explore the challenges facing Chief Data & Analytics Officers and their teams, including:
- How organizations can create an environment that encourages innovation in data-driven initiatives
- Examples of organisations doing data well, and why
- How to set clear expectations around the responsibilities of CDAOs
- The most important qualities for someone in the CDAO role, and much more.
Randy on LinkedIn: https://www.linkedin.com/in/randybeannvp/
Randy's website and book, 'Fail Fast, Learn Faster': https://www.randybeandata.com/book
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.