Through the research, they identified nine levers that enable organizations to create value from an ever-growing volume of data from a variety of sources – value that results from insights derived and actions taken at every level of the organization.
• Culture: Availability and use of data and analytics within an organization
• Data: Structure and formality of the organization’s data governance process and the security of its data
• Expertise: Development of and access to data management and analytic skills and capabilities
• Funding: Financial rigor in the analytics funding process
• Measurement: Evaluating the impact on business outcomes
• Platform: Integrated capabilities delivered by hardware and software
• Source of value: Actions and decisions that generate results
• Sponsorship: Executive support and involvement
• Trust: Organizational confidence
The research also identified three levels of value impact among the nine levers: Enable levers form the basis for big data and analytics; Drive levers are needed to realize value; and Amplify levers boost value creation.
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