A newly released IDC white paper, sponsored by Heap, reveals the impact of data practices on digital experience teams. The independent report, “How Data Maturity and Product Analytics Improve Digital Experiences and Business Outcomes,” surveyed over 600 product builders and data scientists across company product teams in the US and UK.
What was found? When it comes to digital experiences, data mature companies achieve 2.5x better business outcomes.
As shown in the chart to the right, significant increases were seen for revenues and profits, efficiency, higher NPS scores and lifetime customer value.
But it’s not just the top companies that see results. Data maturity progresses in developmental stages as better data practices are implemented within an org.
Figuring out the best path to data maturity isn’t a guessing game. The IDC White Paper found that top companies combined a specific set of tools, practices, and culture, while the lowest performers were found to succumb to the same pitfalls.