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How To: Improve Data Maturity

Understanding Data Maturity

As we undergo a digital transformation, data is king. It has taken an important role in informing decisions and providing business insights for a company. Despite this, not all companies have the same level of data maturity. Data maturity is a measurement of how advanced a company’s data analysis is. According to Sisense, there are 5 levels of data maturity.

  1. Business reporting
  2. Business Intelligence
  3. Ad-hoc analysis/ insights
  4. Hybrid Centralized Data Teams
  5. Predictive Analytics and Machine Learning

So why is data maturity important? A study by Heap found that data mature companies achieve 2.5 times better business outcomes. Another study by Cognopia showed that data-driven organizations are 23 times more likely to acquire customers, 6 times as likely to retain customers, and 19 times as likely to be profitable as a result. Hence, there is no questioning why companies are more incentivized to improve their data maturity.

However, gaining data maturity is not simple. There are 3 things that need to fulfilled. Firstly, an organization needs to allocate financial resources for this. As the number of systems and data grows, a company needs to invest more time and resources towards managing this data. Secondly, an organization must explicitly identify the data owner, which is crucial for maintaining integrity of the data and ensuring it is complete. Lastly, all the data has to be clearly defined and interpreted. Clear communication on this is critical in eliminating conflicting interpretations by different departments, which might drag out the decision-making process in a company.

Data Maturity with TRIYO

With TRIYO, organizations can expedite their data maturity to level 4 – hybrid centralized data teams.  At this level, data collection is easily embedded into the team’s daily activities. Data management is holistic, incorporated in the entire data lifecycle from gathering and integrating to organizing, analyzing and maintaining it. As an organization on the TRIYO platform, companies can access data continuity across product, sales, development, marketing, operations, and so forth. The data is automatically collected to become the single source of truth and can be widely disseminated providing c-suite level insights.

Unsure of where to start in your data maturity journey? We are here to help!

TRIYO’s intelligent data platform integrates, aggregates data from all communication channels across an organization and visualizes the data to generate powerful insights into resource utilization, client engagement and process efficiencies.

Our mission is to help organizations to surface and understand the latent data hidden in all communications channels to provide real-time insights into process gaps and to create efficiencies

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