fbpx

Did you know that a data-driven organization is 178% more likely to have higher profitability and great revenue than its peers? Yet, 76% of businesses are not benefiting from the data available to their enterprise. What’s holding them back? 

The seven top barriers against the use of data are low executive buy-in, poorly articulated data strategy, poor data quality, poor data access, data illiteracy, lack of training, and lack of resources. The biggest barrier out of all of this is a poorly articulated strategy, with 70% of executives lacking in this area. With all of these obstacles, 73% of available data is never analyzed. 

Poor data quality is another of the biggest barriers, leading to an average of $15 million in annual losses. Poor data analysis can lead to less productivity and growth, expensive and ineffective processes, poor decision making, poor customer relationships, misguided business strategies, increased costs, reputation damage, and missed opportunities. 

Google Analytics 360 has all the tools businesses need to analyze their data and put it to work for them. Their tools, along with an expert team included with the license, can get your business turning greater profits and understanding your customers better. 

The Science of Analytics
Source: InfoTrust

NowSourcing

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

View all posts

2 comments

Leave a Reply!

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • To put it simply, a data-driven organization is a company that not only recognizes the power of collecting raw data.Data-driven organizations are committed to gathering data concerning all aspects of the business.

  • All the tools businesses need to analyze their data and put it to work for them. Their tools, along with an expert team included with the license, can get your business turning greater profits and understanding your customers better.

NowSourcing

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

Get The Newsletter

Enter your email address to subscribe to ITN and receive notifications of new posts by email.

  • Try Apple News

Book Recommendations

Categories

%d bloggers like this: