Demystifying Data

Analysis

Demystifying Data

The business benefits of improving data maturity in Australia and New Zealand

Deloitte Access Economics was commissioned by Amazon Web Services to analyse the data maturity of medium and large businesses Australia and New Zealand and to highlight the benefits of, and barriers to, being data-driven.

Leveraging data can help businesses to better understand their customers and create a competitive advantage. It can inform decision-making, optimise solutions and enable innovation.

This report presents a new data maturity model to assess how sophisticated businesses in Australia and New Zealand are when it comes to data. The framework scores businesses across five pillars of data maturity: understanding of data, organisational strategy, capability and culture, tools, and processes.

The majority of surveyed businesses (60%) had basic or beginner data maturity levels when measured against these criteria. Two in five overestimate their data maturity.

Modelling for this report found that even a one-point increase in businesses’ data score is associated with additional revenue - $1.5 million in Australia, and $1.6 million in New Zealand. This revenue could allow businesses to hire 16 full-time employees in Australia and 22 in New Zealand.

This report outlines a roadmap for businesses seeking to improve their data maturity. From building a culture of analytics, to transforming analytics into actionable insights, there are simple steps businesses can take to becoming a data-driven organisation.

Published: October 2020

Demystifying Data

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