Some of the main roadblocks to providing effective value include skill and staff shortages, lack of resources or funding, and cultural challenges.
Less than half of data and analytics teams are effective in providing value to their organization, according to a survey published by Gartner.
The survey, which was conducted online and received 566 responses from data and analytics (D&A) leaders, found that only 44 percent thought their teams were effective, with a majority of respondents struggling to deliver value back to the organization.
Some of the main roadblocks to providing effective value include skill and staff shortages, lack of resources or funding, and cultural challenges. This mirrors what other analytics and data surveys have found, that the shortage of talent for data and analytics is affecting performance.
“D&A is in the business of driving stakeholder value,” said Donna Medeiros, senior direct analyst at Gartner. “The most successful chief data and analytics officers (CDAOs) are outperforming their peers by projecting an executive presence and building an agile and strategic D&A function that shapes data-driven business performance and operational excellence.”
CDAOs are responsible for a wide range of tasks in an organization. According to the survey, 60 percent define and implement data and analytics strategy, 55 percent are responsible for implementing data governance, and 54 percent manage data-driven culture change inside the organization.
Alongside growing responsibilities inside organizations, CDAOs are also being provided with more investment to make data improvements. Data management, data governance, and advanced analytics were three of the areas CDAOs were seeing more investment, with 44 percent of D&A teams increasing in size in the past year.
“The demands being placed upon D&A, as well as increased investment, reflect a growing confidence in CDAOs’ abilities and recognition of the data office as an indispensable business function,” said Medeiros. “However, this leads to more work as pressure grows for D&A to achieve tangible business results.”