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The State Of Insights-Driven Business Maturity, 2019

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For CIos The State Of Insights-Driven Business Maturity, 2019 January 31, 2019 © 2019 Forrester research, Inc. Unauthorized copying or distributing is a violation of copyright law. Citations@forrester.com or +1 866-367-7378 3 Benchmarks: The Insights-Driven Business Playbook fIGUre 1 few firms Have advanced insights-driven Businesses Base: 2,573 global data and analytics decision makers who have seniority level of manager or above Source: Forrester Analytics Global Business Technographics ® Data And Analytics Survey, 2018 57% Beginner 35% Intermediate 8% Advanced Distribution of insights-driven business maturity levels Advanced firms Turn To Systems Of Insight To Deliver Market Differentiation in the The anatomy of a system of insight report, forrester described a system of insight as the business discipline and technology to harness new, actionable knowledge that can be implemented in software to consistently turn data into action (see figure 2). 6 advanced insights-driven businesses: › create sustainable competitive advantage with systems of insights. systems of insight help companies such as Zions Bank and stitch fix inject data and analytics across multiple parts of the business, from marketing and procurement to security and product delivery. By doing so, advanced firms like these create sustainable competitive advantage — advanced insights-driven firms are 240% more likely than beginners to create this advantage (see figure 3). › Grow revenues faster than beginners. systems of insight continually help firms make better decisions, execute more effective actions, and deliver more enticing experiences. advanced firms know the importance of these systems to their top line and are 178% more likely to use systems of insight to grow revenue than beginners. even more powerful is that when advanced firms do grow revenue, they are about 2.5 times more likely than beginners to grow revenue at rates of 20% or more. 7 › readily adapt to digital disruption — and are not stunned by it. The digitization of business practices, from marketing to commerce and now to products and services, has given firms to the opportunity to collect information and act on it in innovative ways. advanced firms know this; they are about 2.3 times more likely than beginners to place systems of insight at the heart of their business in order to adapt to customer changes with greater agility. 8 This allows them to continuously optimize their businesses to the ever-changing competitive and customer environment.

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